Gold Price Today: Falling gold reached the lowest level of the year, know how much the price is now – gold touches two months low know what is the rate now
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Meanwhile, gold prices on Monday fell by Rs 185 to Rs 55,520 per 10 grams in the national capital’s bullion market amid a weak trend in the prices of the precious metal in the global markets. In the last trading session, gold had closed at Rs 55,705 per 10 grams. Silver also declined by Rs 798 to close at Rs 63,227 per kg. HDFC Securities Senior Analyst Saumil Gandhi said, “Spot gold prices in Delhi declined by Rs 185 to Rs 55,520 per 10 grams.” Sriram Iyer, Senior Research Analyst, Reliance Securities, said that due to high inflation in the recent past, the US Federal Reserve may continue to raise interest rates in the coming days. This pushed gold prices to a two-month low on Comex.
futures price also fell
Gold prices on Monday declined by Rs 65 to Rs 55,367 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 65, or 0.12 per cent, to Rs 55,367 per 10 grams. There was a turnover of 11,196 lots. Market analysts said off-loading of positions by participants mainly influenced the fall in gold futures prices.
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