Gold: The price of gold is surprisingly lower today. As far as the Indian market is concerned, the gold price is on the decline amid many factors such as rollover, profit booking, as the contract has expired.
In the same international market, the price of gold is on the decline. This is the upcoming non-farm employment data due out on April 7. Due to this, it is expected to have an impact on the market.
However, with gold prices witnessing an all-time high, this may further prompt gold investors to start booking profits. Due to this there may be pressure on gold prices.
However, despite a slight decline today, gold prices are expected to rise in the long term.
There is no change in the interest rate as the RBI is expected to increase the interest rate. This has led to increased investment in the stock market. Meanwhile, large investments were not made in gold and silver.
Gold prices are expected to touch $2075 as the economy continues to slow down. It is expected to reach the level of Rs 60,330 – 61,280 in the same Indian market.
In the international spot market, gold prices fell by $4 to trade at $2031.50 an ounce. It is technically seen as a slight decrease in the medium term, but may increase again. The same silver price is seen slightly lower at $25.032. It is expected to decrease slightly in the medium term and increase later.
As far as the Indian market is concerned, it is trading at Rs 60,720, down by Rs 136 per 10 grams in the futures market. It is seen that it may decrease slightly in the medium term. The same silver price is trading at 74,517 rupees today, down by 18 rupees per kg. This is also seen to decrease slightly in the medium term.
Ornamental gold prices today fell by Rs 40 to Rs 5,650 per gram and Rs 320 to Rs 45,200 per gram.
The price of the same pure gold fell by Rs 43 to Rs 6,164 per gram. The same 10 grams has decreased by 430 rupees and is being sold at 61,640 rupees.
The price of ornamental silver has also decreased by 70 paise and is being sold at Rs 80 per gram. The same is being sold at 80,000 rupees, reduced by 700 rupees per kg.
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