New Delhi: Gold and silver prices are falling in the domestic market due to the falling prices in the foreign markets and the strengthening of the Indian Rupee Strong. On Wednesday, the price of 10 grams of gold fell by Rs 210 in Delhi Bullion (Latest Gold Price) market. At the same time, the price of 1 kg of silver has fallen by more than 1000 rupees. Experts say that the US dollar has returned to strength due to good economic data. Also, the rise in US bond yields, the hope of a cure for the corona virus and the possibility of a trade deal between the US and China have served to put pressure on gold and silver. Due to these signals, gold can be cheaper again in the domestic market today.
The gold prices have fallen by Rs 5000 from the upper level. The price of gold has fallen from 56,200 to close to Rs 51000 per ten grams. At the same time, silver has become cheaper by Rs 13000 per kg. During this period, the prices have fallen from Rs 78000 to close to Rs 65000.
New Gold Prices (Gold Price on 26 August 2020)
According to HDFC Securities, the price of 24-carat gold has come down from Rs 52,173 per ten gram to Rs 51,963 per ten gram in Delhi bullion market on Wednesday. During this period, prices have come down by Rs 210 per 10 grams. At the same time, the price of 99.9 percent gold in Mumbai has slipped below 51000 rupees. On Wednesday, the price of 24-carat gold came to Rs 50983.00 per ten grams.
New Silver Prices (Silver Price on 26 August 2020)
On Wednesday, like gold, silver prices have also seen a fall. The price of one kilogram of silver has fallen from Rs 66,255 to Rs 65,178 in Delhi Bullion Market. During this period, prices have fallen by Rs 1,077. At the same time, silver prices have come down to Rs 62541 per kg in Mumbai.
Now what will happen next
The report released by Kotak Securities said that the eyes of the bullion market are now set on the speech of Jerome Powell, chairman of the US Federal Reserve. Jackson Hall meeting is scheduled for Thursday. The central bank’s perspective about the economic situation will be known in this meeting.
Know what experts say about gold and silver
According to Motilal Oswal Financial Services, there may be signs of weakness in the dollar if the interest rates in Jackson Hall continue to soften. In this case, the price of gold will go up. He says that by the end of December, gold can go beyond 60 thousand rupees per ten grams.
