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The price of gold today ended at Rs 31,850 per 10 grams, unchanged from yesterday 's level.
New Delhi: The price of gold has remained stable under the value of Rs 32,000 while the price of silver The price of gold has now closed. to Rs. 31,850 per gram, but the price of silver dropped from Rs 150 to Rs. 37,300 per kg because of the decline in demand for industrial units, while gold prices declined. had earned Rs 100, recording a two-day fall. 99.9% pure gold and 99.5% purity remained unchanged at Rs 31,850 and Rs 31,700 per gram, respectively. The sovereign gold also remained stable at Rs 24,800 per piece of 8.
On the other hand, the money decreased from Rs 150 to Rs 37,300 per kg and its deliveries weekly down from 274 rupees to 36,035 rupees per kg. The silver coins continued to be exchanged at the previous level of Rs 73,000 for the purchase and Rs 74,000 for the sale of 100 pieces.
Worldwide, the price of gold has fallen slightly today, with the US dollar remaining firm. ched by 0.1% to $ 1,220.97 an ounce, while gold futures in the US down 0.2% to 1,220.2 ounces. On a global scale, the price of gold has lost more than 10% from its peak in April, as investors turned to the dollar as a safe haven from the trade war that is unfolding in a context of rising US interest rates.
Gold traders will look at the Fed's November 7-8 minutes, which is expected later this week, which will probably indicate the pace of interest rate increases in 2019. The slowdown Global growth sparked new expectations that the Fed could end its tightening cycle earlier than expected. Gold is very sensitive to rising interest rates, which raises the opportunity cost of holding nonproductive bullion. They also stimulate the dollar, in which the metal is priced.
Traders will also seek clarification on the trade dispute that will lead to the G20 summit. In an interview with The Wall Street Journal, US President Donald Trump said he planned to increase tariffs on Chinese imports for $ 200 billion from 10 percent currently to 25%, and reiterated its threat to lower tariffs on all remaining imports from China. . The comments contradicted recent speculation about a possible deal when Trump will meet Chinese President Xi Jinping at the G20 summit in Buenos Aires later this week.
In India, recent appreciation of the value of the rupee against the US dollar and low world prices have brought prices closer to 32,000 rupees. Earlier this year, the price of gold in India had reached its highest level in six years, exceeding Rs 32,500 per 10 grams.
(with agency entries)
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