The price of gold has not changed on Monday, August 18th in the bullion market. According to the All India Bullion Association, gold with 99.9 per cent purity remained stable at Rs 1,00,920 per 10 grams.
On Saturday, gold fell by Rs 500 to Rs 1,00,920 per 10 grams, while on Thursday it closed at Rs 1,01,420 per 10 grams. The bullion market was closed on Friday for Independence Day. Gold with 99.5 per cent purity in the domestic market also remained stable at Rs 1,00,500 per 10 grams.
Silver prices saw a sharp rise on Monday. In the domestic market, silver rose to Rs 1,15,000 per kg, with a rise of Rs 1,000. In the last trading session, it closed at Rs 1,14,000 per kg.
Market experts say there was no concrete result from the meeting between Russia and the United States, but the tone of the negotiations was positive. This is the reason why gold prices are currently stable. If peace is soon progressed in negotiations, the price of gold may be pressure.
On the other hand, if the situation is prolonged, the price may remain high. In the international market, gold prices rose slightly to US $ 3,349.29 per ounce on Monday. Silver was traded 0.35 percent at US $ 38.14 per ounce.
Analysts believe that investors are now monitoring the proceedings of the US Federal Reserve meeting. If there is a signal of interest rates, it will have a direct impact on the price of gold. In addition, Fed Chairman Jerome Powell's speech at the Jackson Hall Symposium can also determine the direction of the gold and global market.
