Gold Price Today: A day before the budget, the price of gold fell, know what is the latest price

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Gold Price Today : On Wednesday i.e. February 1, Finance Minister Nirmala Sitharaman will present the budget in the Parliament, on which the eyes of the whole country are focused. Common people suffering from inflation are expected to get relief from the central government in the general budget. It is expected that this will be an election budget in which the Modi government at the Center can do the work of providing relief to the people. Here, a day before the budget, a fall in the price of gold has been recorded.

Gold price decreased by Rs 128

Gold prices on Tuesday declined by Rs 128 to Rs 56,919 per 10 grams in futures trade as speculators reduced their positions due to weak demand in the spot market. On the Multi Commodity Exchange, the contract for delivery in April declined by Rs 128, or 0.22 per cent, to Rs 56,919 per 10 grams. There was a turnover of 19,349 lots.

what the market analysts said

Regarding the price of gold, market analysts said that off-loading of positions by traders led to fall in gold futures prices. Globally, gold traded 0.48 per cent lower at $1,929.80 an ounce in New York.

Navneet Damani, Senior Vice President, Commodity Research Department, Motilal Oswal Financial Services, said that market traders are expecting a cut in the import duty on gold in the Union Budget 2022-23. However, we are waiting for an official announcement in this regard, he added.

condition of delhi bullion

Meanwhile, amid weak global cues, gold prices fell by Rs 105 to Rs 56,780 per 10 grams in Delhi’s bullion market on Tuesday. This information was given by HDFC Securities. In the last trading session, gold had closed at Rs 56,885 per 10 grams. The price of silver also declined by Rs 379 to close at Rs 68,418 per kg.

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