In the Delhi bullion market, gold fell marginally by Rs 9 to Rs 52,592 per 10 grams on Friday. HDFC Securities gave this information. Due to this, gold had closed at Rs 52,601 per 10 grams in the previous trading session. At the same time, silver has also declined by Rs 487 to Rs 58,477 per kg. With this, silver had closed at Rs 58,964 per kg in the previous trading session.
In the international market, gold was trading with a loss at $ 1,789 an ounce. On the other hand, silver was steady at $20.13 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said that gold traded below $ 1,790 an ounce, but despite this, there is a possibility of a rise in gold due to tensions between China and Taiwan and concerns of economic slowdown.
Prices in futures trade
In the futures trade, gold prices fell by Rs 21 to Rs 52,144 per 10 grams on Friday. On the Multi Commodity Exchange, contracts for October delivery were trading lower by Rs 21, or 0.04 percent, at Rs 52,144 per 10 grams. This is for a business turnover of 16,080 lots.
On the other hand, silver prices have risen by Rs 60 to Rs 58,042 per kg in futures trade on Friday. On the Multi Commodity Exchange, silver contracts for September delivery rose by Rs 60, or 0.1 percent, to Rs 58,042 per kg. These prices are in a business turnover of 16,734 lots.
gold and silver prices in Mumbai
At the same time, the price of gold in the Mumbai metropolis, which is called the financial capital of the country, has been at Rs 51,811 per 10 grams. The price of silver has reached Rs 57,362 per kg in the capital of Maharashtra.
Let us tell you that due to tensions between Russia and Ukraine, the slowdown in the global economy, and high inflation, gold prices can see a huge increase. It has been told in the report that according to experts, gold prices can touch the figure of Rs 55,000 this year. With this, gold can reach Rs 62,000 next year.
The World Gold Council believes that in the present condition of the global economy, there is every possibility that the demand for bullion will remain in it.