Gold prices fell by Rs 672 to Rs 51,328 per 10 grams in the Delhi Bullion Market on Tuesday amid a weak global trend. According to HDFC Securities, silver fell today. Silver fell by Rs 5,781 to Rs 61,606 per kg.
So the decline
In this context, HDFC Securities Senior Analyst (Commodities) Tapan Patel said that the 24-carat gold prices in Delhi declined by Rs 672, reflecting the sell-off in international prices despite the fall in the rupee.
It is known that due to a negative trend in the domestic stock market, on Tuesday, the rupee fell 20 paise to 73.58 (provisional) level against the US dollar. The dollar index, showing the position of the US dollar against six major currencies, fell 0.04 percent to 93.61.
Price in the international market
In the international market, gold was trading at a level of $ 1,900 an ounce, while silver showed a flat stance and was bid at $ 26.12 an ounce.
The price of gold and silver was so much on Monday
On Monday, the price of gold and silver fell in the domestic market. Gold fell by Rs 326 to Rs 52,423 per 10 grams in the national capital due to a weak global trend and an appreciation in the rupee against the dollar. At the same time, silver was down by Rs 945 to Rs 68,289 per kg. In the global market, gold was trading at the US $ 1,940 an ounce, while silver was trading flat at $ 26.50 an ounce.
26 percent increase in price so far
Gold is used as a safe investment in times of political and financial uncertainty, it has become costlier by around 26 percent this year. Gold imports in India increased to $ 3.7 billion in August from $ 1.36 billion in the same month last year. India is the second-largest buyer of gold after China. Gold attracts 12.5 percent import duty and three percent GST on gold in India.