Gold Prices Today: Silver foil, gold slipping to 9-month minimum level, know what gold and silver prices are today

In the Indian markets today, the prices of both spot gold and futures gold have fallen. However, silver works today have gained momentum. While Gold closed sharply on Friday, today its prices have come down. Gold has become cheaper by Rs 11,500 per 10 grams from its all-time high. Gold price today in the Delhi bullion market (Gold Price Today) fell by Rs 122 per 10 grams to close at Rs 44,114. At the same time, the price of silver was increased by Rs 587 per kg today.

Let us tell you that during the last trading session, gold had closed at Rs 44,236 per 10 grams in the bullion market and silver had closed at Rs 64,947 per kg. On the Multiple Commodity Exchange (MCX), futures gold today fell by 0.66% ie Rs 293 to close at Rs 44,390 per 10 grams. Let us tell you that Sona has reached the minimum level in its 9 months.

International markets also saw a decline in gold prices and a rise in silver today. Gold in global markets today lost 0.8%, while it gained momentum on Friday. In the global market, the price of gold today was $ 1689.90 an ounce. At the same time, silver saw a slight rise and was priced at $ 25.31 an ounce. Tapan Patel, Senior Analyst (Commodities), HDFC Securities, said the impact of the reduction in gold prices in the international market has been seen on Indian markets as well.

So fell gold

Gold entered the bear market today due to the rise in US Treasury yields and strong dollar. Gold-based exchange traded funds (Gold ETFs) continue to be under selling pressure on gold, as upward momentum is not visible in gold. The 10-year US bond yield continues to be an uptrend. Due to this, gold prices declined today.

Gold prices will fall now

Shriram Iyer, senior research analyst at Reliance Securities, said that gold could fall to the level of 44,000 per 10 grams and if it falls below that it could come down to 42,250. Gold support levels in the dollar can be between $ 1,685-1,660. He said that it can also test the level of $ 1600 per ounce.

Kshitij Purohit, Product Manager, CapitalVia Global Research, shouted at Shriram Iyer’s note that Gold is likely to trade between Rs 43,800 and Rs 44,000 on MCX. At the same time, it can be between 1,685-1,660 on COMEX. He said that if the bond yield continues to increase, gold prices may fall to 41,500 per 10 grams. At the same time, Navneet Damani, Vice President of Motilal Auswal said that gold on MCX is estimated to be between 44,200 and 43,500.

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