Gold Rate Today: Gold becomes cheaper, silver prices also fall
There was a slight decline in the price of gold on Tuesday. Gold fell by Rs 5 to Rs 47,153 per 10 grams. According to HDFC Securities, this is due to weak global trends.
silver, Gold Price Today: There was a slight decline in the price of gold in the national capital Delhi on Tuesday. Gold fell by Rs 5 to Rs 47,153 per 10 grams. According to HDFC Securities, this is due to weak global trends. In the previous trade, the precious metal had closed at Rs 47,158 per 10 grams. Silver fell by Rs 287 to Rs 64,453 per kg. In the previous trade, it was at Rs 64,740 per kg.
price in the international market
In the international market, gold was trading lower at $ 1,802 an ounce. And silver was flat at $ 24.30 an ounce.
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said that gold prices were trading 0.27 per cent lower at USD 1,802 an ounce with Spall Gold prices trading weak on Comex trading on Tuesday. He further said that gold prices remained under pressure on Tuesday, due to a stronger dollar and rise in US bond yields.
Let us tell you that from Diwali to December, the price of gold can go from 57 thousand rupees to 60 thousand rupees. That is, the prices that are going on now can increase up to 14 thousand per 10 grams. As far as silver is concerned, there can be a big increase in it too. Most of the traders believe that silver prices may go up to Rs 76,000 to Rs 82,000 per kg by Diwali or by the end of the year.
Gold exchange to be built in India
Market regulator SEBI has approved the proposal to set up a gold exchange. The trading of gold in the Gold Exchange will be done through Electronic Gold Receipt (Receipt) ie EGR. Electronic Gold Receipt (EGR) will be launched from any recognized stock exchange or new stock exchange. Only after the approval of SEBI will it be decided that what will be the minimum price of EGR. After this, the stock exchanges will be able to convert EGR into gold. According to SEBI, the gold exchange will have a complete ecosystem for the trading of EGR and delivery of physical gold and will provide greater transparency and choice in gold trading in the country. Gold Exchange will be the national platform for buying and selling EGR. Standard gold will be traded under EGR and will help in creating a uniform price structure of gold across the country.