Gold Price Today In India: Due to weakness in the international market and low industrial demand, gold fell by Rs 150 to Rs 77,900 per 10 grams and silver fell by Rs 500 to Rs 93,000 per kg. All eyes are on the policy of the Federal Reserve.
Gold Price Today: Gold Rate Today 21st November 2024
Gold became cheaper, fell by Rs 150:
- Gold prices fell in the bullion market of the national capital Delhi on Wednesday.
- Gold of 99.9% purity: Fell by Rs 150 to Rs 77,900 per 10 grams.
- On Tuesday, it closed at Rs 78,050 per 10 grams.
- Gold of 99.5% purity: Closed at Rs 77,500 per 10 grams, which is Rs 150 less than the previous session.
Silver also became cheaper, fell by Rs 500:
- Silver prices also fell due to weak industrial demand.
- The price of silver fell by Rs 500 to Rs 93,000 per kg.
- On Tuesday, silver was at Rs 93,500 per kg.
Impact of international market:
The softening of gold and silver prices across the world also affected the Indian market.
Comex gold futures: Fell by $6 to $2,625 an ounce.
Silver in Asian market: Was trading 0.99% down at $31.38 an ounce.
What are the reasons for the fall in prices?
Soft stance of Federal Reserve:
The US Federal Reserve is expected to cut interest rates. Due to this, investors are turning to other assets instead of gold.
Low industrial demand:
Weak buying by coin makers and industries pushed silver prices further down.
Russia-Ukraine conflict:
Gold has got some support amid this tension, but it was not enough to stop the decline.
Impact of local elections:
The morning session of Multi Commodity Exchange (MCX) was closed due to Maharashtra assembly elections.
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