Gold Price Today: There has been a huge fall in the prices of gold and silver. Just a day before Navratri, the price has dropped to Rs 462.
Gold Silver Price Today: Due to falling international prices, buying gold in the domestic market has become cheaper. The price has fallen by Rs 226 in the Delhi bullion market. At the same time, silver has become cheaper by Rs 462 during this period. Experts say that after the end of Shradh, Navratri is about to begin. Demand is expected to increase in Navratri. Therefore, gold prices can get support at lower levels. However, there is no hope of a big rally in gold. Because international prices are continuously falling.
Gold Price – (Gold Price Today, 6 October 2021)
According to HDFC Security, gold of 99.9 per cent purity has fallen by Rs 226 to Rs 45,618 per 10 grams in Delhi. At the same time, prices fell to $ 1,747 an ounce in the international market.
Silver Price- (Gold Price Today, 6 October 2021)
Like gold, silver prices have also declined. The price of one kilogram of silver fell by Rs 462 to Rs 59341. At the same time, the prices fell to $ 22.35 an ounce in the international market.
why gold is getting cheaper
HDFC Securities Commodity Analyst Tapan Patel says that the economies of the world are making steady progress. That is why the trend of the common man has now moved towards the stock market. That is why the pressure on gold prices continues.
So far this year, the price of gold has come down by about Rs 2,750 per 10 grams. Whereas jewelery gold was around Rs 45,250 per 10 grams in January, while this month its price has come down to around Rs 42,500. Demand got support due to fall in prices. Apart from this, big festivals are ahead, so jewelers have bought gold.
Now what next?
The trend of increasing gold imports may continue in October as well. This month is Dussehra and then next month is Diwali. Meanwhile, there are many occasions when buying gold is considered auspicious. Experts say that more gold may be imported this month. Demand will remain strong, so there is a possibility of a rise in prices.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.