Gold-silver rate fall in sawan: gold fall by rs 110 and silver rate drop by rs 600

New Delhi: If you want to make gold and silver jewellery, then take advantage of this question. There has been a decline in the price of gold and silver in the month of July. Amid a weak trend in global markets, gold prices fell by Rs 110 to Rs 59,240 per 10 grams in the national capital on Friday. HDFC Securities gave this information. Earlier, gold had closed at Rs 59,350 per 10 grams. Silver also declined by Rs 600 to Rs 71,500 per kg. HDFC Securities Senior Analyst Saumil Gandhi said, “In the spot market in Delhi on Friday, Gold prices declined by Rs 110 to Rs 59,240 per 10 grams. Gandhi said the fall in gold prices after the release of stronger-than-expected US macroeconomic data has strengthened hopes that the Federal Reserve will tighten monetary policy. Will keep the policy strict.

According to Jatin Trivedi, Vice President, Research Analysis Department, LKP Securities, the current gold rate provides an opportunity for investors as the gold price is expected to bounce back till Diwali.

Trivedi said, “Keeping in mind the current price level, gold offers a good buying opportunity for retailers and new investors. By the time of Diwali, gold prices may reach around 61,850-62,500, higher than the previous highs.” Closer to higher levels… If the Federal Reserve’s (US central bank) stance turns dovish with signs of a turnaround in the interest rate cycle, gold can potentially move towards 64,500 levels.’ ‘

In the overseas markets, gold declined to $1,915 an ounce while silver declined to $22.70 an ounce.