Gold-Silver rare today: There was no change in the price of gold today due to slowness in the global market. However, the price of silver dropped by Rs 500 to Rs 93,000 per kg. Gold price remained stable at Rs 82,000 per 10 grams. However, commodity experts believe that the price of gold will fall in the coming days. Praveen Singh, Associate Vice President – Fundamentals and Commodities, Mirae Asset Sharekhan, said that gold is more likely to fall than rise as the US economy is performing well and there is little change in the US CPI data in the Fed’s monetary policy stance. It won’t make any difference. The price of gold has increased by more than three percent and the price of silver by seven percent so far in January due to demand for safe investments amid political and economic uncertainties. In such a situation, if you are preparing to buy gold then it would be better to wait for a few days.
Waiting for Donald Trump’s speech
Commodity experts say that investors will wait for the inauguration speech of US President-elect Donald Trump on Monday and only then choose a path for future trading. Meanwhile, in international markets, Comex gold futures fell 0.09 per cent to $2,746.30 an ounce. Comex gold futures were trading below $2,750 before Donald Trump was sworn in as US President on Monday. US inflation data has fueled speculation about further cuts in interest rates by the Federal Reserve (Fed), which generally supports the appeal of gold as a non-interest-bearing asset.
Price is still below record
On October 31 last year, gold of 99.9 percent purity and gold of 99.5 percent purity had reached record levels of Rs 82,400 and Rs 82,000 per 10 grams respectively in the local markets. However, the price of silver declined by Rs 500 to Rs 93,000 per kg on Friday from the previous closing price of Rs 93,500 per kg.
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