- Decline of gold-silver rate in international market also affects Indian market
- Gold and silver sell due to early report of trade deal between US and China
The price of gold declined by Rs 166 on Monday. The rate of 24-carat gold in Delhi was Rs 38,604 per 10 grams. 38,770 on Saturday. Silver rate fell by Rs 402 to Rs 45,178 per kg. 45,580 rupees on Saturday.
According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities, the impact of declining gold and silver prices in the international market was seen in India. Gold was recorded at $ 1,458 an ounce and silver at $ 16.86 an ounce in the international market. The rates of both metals were reduced on hopes of a trade deal between the US-China.
According to media reports, the first phase of the US-China deal can be done by the end of next month. Due to such report, the stock markets across the world gained momentum on Monday. The major index of the Indian stock market, the Sensex, gained 529.82 points to close at a record level of 40,889.23.
Source – Danik bhakar