Gold Price Today: Gold becomes cheaper, Silver also became cheaper by Rs 964 per kg
In the last trading session, it closed at Rs 50,938 per 10 grams. On Tuesday, silver also declined by Rs 964 to Rs 61,555 per kg. Silver had closed at Rs 62,519 per kg in the previous session.
On Tuesday, there was a sharp fall in the prices of gold and silver. According to HDFC Securities, on June 7, gold prices fell by Rs 205 to Rs 50,733 per 10 grams in the national capital Delhi.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot price of 24 carat gold in Delhi declined by Rs 205, reflecting the prevailing gold prices on commodity exchanges. Gold prices saw a rise in the international market and it was trading at $ 1844 an ounce. On the other hand, silver was trading lower at $ 22.01 an ounce. Patel said that due to strengthening of dollar and rise in US bond yields, gold prices have softened.
On Tuesday, on the Multi Commodity Exchange, the futures price of gold saw a fall of Rs 56 and it was seen trading at Rs 50,814 per 10 grams. Speculators reduced their positions in gold in view of low demand. On the Multi Commodity Exchange, the August futures gold contract was seen trading lower by Rs 56 at Rs 50,814 per 10 grams.
On Monday, due to strong spot demand, gold futures saw a sharp rise. On Monday, gold was seen trading higher by Rs 51 at Rs 51,021 per 10 grams in futures trade. On Monday, gold for delivery in August traded higher by Rs 51, or 0.1 per cent, at Rs 51,021 per 10 grams, with a business turnover of 14,371 lots, on the Multi Commodity Exchange on Monday.
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