Gold has fallen by Rs 35 and has come down to Rs 54,054 per 10 grams. In the previous trading session, gold had closed at Rs 54,089 per 10 grams.
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Amid softening of prices abroad, gold fell by Rs 35 and fell to Rs 54,054 per 10 grams in the Delhi bullion market on Wednesday. HDFC Securities gave this information. In the previous trading session, gold had closed at Rs 54,089 per 10 grams. At the same time, silver has also come down to Rs 65,928 per kg with a loss of Rs 251. Dilip Parmar, Research Analyst, HDFC Securities, said that due to risk aversion due to fears of recession, the price of gold has decreased slightly.
In the international market, gold was present with a loss at $ 1,772.8 an ounce. At the same time, silver was also trading with a loss at $ 22.30 an ounce.
Navneet Damani, senior vice-president (commodity market research), Motilal Oswal Financial Services, said that investors are keeping an eye on the US Federal Reserve meeting next week. He said that this will clear the trend regarding the pace of increase in the policy rate. Due to this, fluctuations in the prices of gold have been seen in the Asian business.
Prices in futures trade
In futures trade, gold prices rose by Rs 10 to Rs 53,770 per 10 grams on Wednesday. On the Multi Commodity Exchange, the contracts for delivery in October were trading higher by Rs 10, or 0.02 per cent, at Rs 53,770 per 10 grams. This is for a business turnover of 15,857 lots.
Let us tell you that the attraction of Indians towards gold is famous all over the world. Even the direct effect of this attraction is seen on the gold business of the whole world and on the import bill of India. In such a situation, it becomes necessary to know that in which region and in which district the love for gold is more than the other part of India.
Let us tell you that India ranks second among the countries with the highest gold consumption in the world. China is number one. Somasundaram PR, regional chief executive officer of WGC’s Indian operations, told Reuters that higher inflation is likely to curb rural demand, which was beginning to recover from disruption caused by last year’s COVID-19-led lockdown.
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