After a continuous rise of 2 months, a sharp decline in the prices of gold and silver has started. The prices of gold and silver are decreasing every day. There was a big fall in both the precious metals in early trading on Friday. After reaching record high level, the decline of gold and silver continues.
The record high level of gold on MCX is Rs 1.32 lakh per 10 grams, while the record level of silver is above Rs 1.70 lakh. If seen from here, there has been a big decline in both the metals. Sleep More than Rs 9000, while silver has decreased by more than Rs 24000.
This decline has come at a time when global risk perception is improving. The US dollar is strengthening and investors are reconsidering their safe investments. This improvement has come after inflation concerns, expectations of interest rate cuts and geopolitical instability.
How much gold today-price of silver become less?
Today gold on MCX is trading at Rs 1,22,860 per 10 grams, down by Rs 1244. Whereas silver is down by Rs 2565 at Rs 1,45,947 per kg. Today’s high rate of gold is Rs 123776 and low is Rs 122800. Today silver had touched a high level of Rs 147473 per kg.
What are experts saying about the decline
Commodity experts say that this step could be the end of the immediate bullish phase of the metal, although it will not necessarily be the end of the broader bullish phase. Darshan Desai, CEO of Aspect Bullion and Refinery, said gold prices are set to break their nine-week rising streak after a sharp fall from recent highs.
He attributed this decline to profit-booking by investors amid ‘increased valuations, renewed optimism over a possible US-China trade agreement and a strong US dollar’.
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