Gold prices fell on tuesday in the country's capital Delhi, while silver prices saw a jump. gold fell by Rs 100 to Rs 78,600 per 10 grams. In the previous session, it had closed at Rs 78,700 per 10 grams. At the same time, the price of 99.5 percent pure gold also fell by Rs 100 to Rs 78,200 per 10 grams. On the other hand, the price of silver rose by Rs 500 to Rs 90,500 per kg. In the last trading session, it had closed at Rs 90,000 per kg.
What is the condition of the futures market?
There was also a stir in the futures trading of gold and silver on the Multi Commodity Exchange (MCX). gold contract for february delivery rose by Rs 35, taking it to Rs 76,179 per 10 grams. However, silver contract for march delivery fell by Rs 87 and closed at Rs 89,031 per kg.
Stability in global market
Not much change was seen in the prices of gold and silver internationally. Comex gold futures remained stable at $2,628.30 an ounce, while Comex silver futures fell 0.13 percent to $30.15 an ounce.
What is the reason behind this?
Actually, due to christmas holidays, trading volume remained calm this week as compared to last week. At the same time, the improvement in the US dollar put pressure on gold and silver prices. Understand it like this that the strength of the dollar in foreign markets puts pressure on gold prices. Because of this, sometimes its effect is also seen on gold prices in India.
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