Priyanka
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For the third day in a row, gold has continued its decline, this time reaching the lowest level it has so far. This was reported by All Hyderabad Sarafa Association which stated that the price in the national capital's bullion market dropped by 150 percent alongside trying trends from foreign markets. While the price of gold with 99.9 percent purity closed at 88,900 per 10 grams on Friday, gold with 99.5 percent impurity and foreign-derived components closed at 88,500 on the day before. In the fourth session of decreasing silver price, the value of silver also decreased by 250 and now sits at 99,250 per kilogram.
Further markets have also declined,
Moving to international affairs, the value of Comex gold futures for April dropped by 0.32 percent and now stand at $2,904.80 per ounce, almost reaching the spot price of gold which dropped by 0.13 percent and it now gains a value of 2,905.31 dollars per ounce. Mehta Equities Limited Vice President Rahul Kalantri stated, “The deepened worries courtesy US Bond yields shifting significantly, resulted in gold and silver being sold off from their recent highs.”
Yet, the weakened dollar gave a leeway for gold and silver prices to bounce back. May silver futures were trading at a whopping $32.80 an ounce.
Here is the price for gold as on today in India as seen on the India Bullion and Jewelers Association Limited website:
Fine Gold (999): 8,603
22KT: 8,396
20KT: 7,656
18KT: 6,968
14KT: 5,549
Futures prices for gold rise.
As expected, with time the price of gold increased. On Monday, gold price increased by Rs. 23 to Rs, 85,900 per 10 gram in the futures commerce as there was spot further demand. At the Multi Commodity Exchange, gold for April delivery rose buy 15,094 lots traded. Analysts claim the reason was the fresh positions established by the participants increased gold prices. In New York, Globally, gold futures marginally went down by 15,094 lots $2,908.46 an ounce.
