Gold and Silver Update : Gold Price fell to 51,320 per 10 grams.

by amolwarankar
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New Delhi: There is slight rise in gold prices today. However, due to the strengthening of the rupee, the continued rise in gold prices in the domestic futures market came to a halt. On Wednesday, gold futures on MCX-Multi Commodity Exchange fell 0.35% to 51,320 per 10 grams. The price of silver fell by Rs 900 to 70,000 per kg.

On 7 August last month, the price of gold reached Rs 56,200 per ten grams.

According to gold-experts, gold can be cheaper in India, due to the fluctuation in global currency in today’s session, gold-silver may fluctuate. Looking at the latest figures of the manufacturing PMI, it seems that manufacturing activities are increasing worldwide, the gold prices may fall again. Gold prices are expected to fall in the Indian market today too as the rupee is constantly getting stronger.

The Kotak Securities report states, internationally gold has risen sharply after taking support near the level of $ 1900 an ounce, if any fresh trigger is not seen (trigger), then there will be further price pressure.

Gold was trading up 0.1% at $ 1,971.07 an ounce in the overseas market today, while US gold futures were steady at $ 1,978.90. Among other precious metals, silver rose 0.3% to $ 28.25 an ounce.

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