GOLD BECOMES CHEAPER IN THE FESTIVE SEASON, SILVER ALSO FALLS : New Delhi: Due to weak demand in the festive season, the price of gold showed a slight drop on Monday. In the Sarafa Bazar of the capital Delhi, gold became cheaper by Rs 30 to Rs 39,210 per 10 grams. Silver also saw a slight decline and its price fell by Rs 90 to Rs 46,390 per kg. HDFC Securities Chief Analyst Tapan Patel said the market had a sluggish opening over the weekend, the effect of which is also visible this week.
Apart from this, the effect of rupee weakness is also visible on the bullion market. Silver spot weakened by Rs. 90 to Rs. 46,390 per kg. Silver futures were also quoted at Rs. 45,390 per kg with a weakening of Rs. 140. Coin buying and selling remained unchanged at Rs 920 and Rs 930 per unit, respectively.
According to information from London and New York, the impact of precious metals has been seen in the global market. Gold spot weakened by $ 2.65 to $ 1501.80 an ounce. During this period, December American gold futures fell nearly four dollars to $ 1506 an ounce. The gold standard was Rs 39,390 per 10 grams. GOLD BECOMES CHEAPER IN THE FESTIVE SEASON, SILVER ALSO FALLS