Since Diwali, an increase of 4 percent has been seen in the prices of gold. At the same time, silver has become costlier by more than 8 percent. Further, the direction of gold and silver will be decided by the signals of the Federal Reserve.
Gold softens but silver gains
Amidst the signals received from foreign markets, mixed signals have been seen in gold and silver in the domestic market today. Today, softening has been registered in gold, on the other hand, an increase has been seen in silver. However, the fluctuations in both the precious metals have been very limited. Currently, the investors are waiting for the details of the last meeting of the US Federal Reserve, due to which the prices have seen a narrow range. After today’s fall, gold has come down below the level of 52,800, while silver has risen above the level of 62,000.
Where did gold and silver reach
Gold fell by Rs 40 to Rs 52,797 per 10 grams in the Delhi bullion market on Wednesday amid a fall in the prices of precious metals in foreign markets. HDFC Securities gave this information, in the previous trading session, gold had closed at Rs 52,837 per 10 grams, in contrast to gold, the price of silver rose by Rs 110 to Rs 62,056 per kg. In the international market, gold fell to $ 1,745 an ounce and silver was trading at $ 21.27 an ounce without any change. Dilip Parmar, Research Analyst, HDFC Securities, said Comex gold (commodity market) declined as investors awaited details of the US Federal Reserve meeting.
Gold prices increased in a month
A month ago, on the occasion of Diwali, the price of gold was at the level of Rs 50,702 per 10 grams, while the price of silver was at the level of Rs 57,501 per kg. That is, during one month the price of gold has increased by Rs 2075 per 10 grams ie 4 percent. On the other hand, the increase in the prices of silver was more than this. The prices have increased by more than Rs 4500 in a month. That is, silver has recorded an increase of about 8 percent during a month.
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