Gold soared after Donald Trump’s victory
Gold and silver price reduced: It is said that the United States decides the direction of the entire world’s economy. This seems to be demonstrated after the end of the presidential elections there. Until it was clear who would take over the presidency in the United States, gold prices rose continuously and remained above Rs 80,000 per 10 grams. Now that Donald Trump has recorded a landslide victory there, the price of gold appears to be stabilizing.
Gold and silver prices fell in the Delhi bullion market on Thursday. All India Bullion Association reported that the price of gold fell by Rs 1,650 and fell below the level of Rs 80,000 per 10 grams. Silver price also fell to Rs 2,900 per kg.
The price of gold and silver remained like this
On Thursday, the price of gold fell by Rs 1,650 to Rs 79,500 per 10 gram, while a day earlier it had closed at Rs 81,150 per 10 gram. Similarly, a drop in silver prices was also observed. Silver price fell by Rs 2,900 to Rs 93,800 per kg. While on Wednesday its price remained stable at Rs 96,700 per kg.
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The price of gold with 99.5 per cent purity used in jewelery has also fallen by Rs 1,650 to Rs 79,100 per 10 grams. In the last session, its price had closed at Rs 80,750 per 10 grams.
Market sources say that after the end of Diwali and Chhath seasons, demand for gold by local jewelery makers has weakened. At the same time, due to the soft attitude of foreign markets, pressure has been seen on their prices. At the same time, silver consumption by mints and industries has been weak. That is why their prices have also fallen.
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International market trend
Traders claim that due to the weak global trend, business sentiment in the market remains weak. This put pressure on gold prices. Jatin Trivedi, vice president (commodities and currencies) at LKP Securities, said gold is trading in a limited range due to price stability as the market is also awaiting the Federal Reserve’s decision overnight.
While in the Asian market the future price of gold on Comex has fallen by $1.90 per ounce, to $2,674.40 per ounce. While silver fell 0.24 percent, to $31.26 an ounce.
Not only this, Saumil Gandhi, senior analyst (commodities) at HDFC Securities, says that after Donald Trump’s victory, the demand for gold as a safe investment has decreased due to the flow of capital into risky assets like Bitcoin and stock markets. . Because of this there has been a fall in gold. At the same time, expectations of a rise in US bond yields have also increased.
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