Categories: Business

Gold declines Rs 557, silver tumbles Rs 1,606

Photo: FILE

gold and silver price today

new Delhi. Today, gold and silver prices have seen a decline in the spot market. According to HDFC Securities, the price of gold has fallen by Rs 557 per ten grams on Tuesday to Rs 52,350. In the previous trading session, gold had closed at Rs 52,907 per 10 gram level. At the same time, the price of silver also fell by Rs 1606 to Rs 66,736 per kg. The price had closed at Rs 68342 per kg in the previous session. The international market saw a slight rise in the price of gold and the price remained at the level of $ 1930 an ounce. On the other hand, silver was at $ 26.45 an ounce.

According to Tapan Patel, Senior Analyst (Commodity), HDFC Securities, gold was found to be stable due to rising cases of corona in Asia and Europe with a weak dollar. However, the rise in gold was limited due to signs of easing tensions between the US and China. At the same time, Vice President Commodity Research of Motilal Oswal said that gold prices are seeing pressure in precious metals due to dollar move and new expectations regarding treatment of corona.

On the other hand, futures prices of gold and silver have seen an increase. At the Multi Commodity Exchange, delivery gold contract prices rose by Rs 211, or 0.41 per cent, to Rs 51,480 per 10 grams in October. It traded for 15,527 lots. On the other hand, silver for delivery in September rose by Rs 298 or 0.45 per cent to Rs 65,867 per kg with a business turnover of 8,983 lots.

This post was published on August 25, 2020 6:04 pm

Content Team

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