Gold and Silver Price: Gold becomes cheaper in New York, know what will be the effect on prices in India
Gold And Silver Price. Gold and Silver Price are trading declining in New York’s Comex market. While the Indian futures market in India is closed due to the festival of Holi. Its effect will be found in India at 5 pm on Monday. In fact, today due to Holi, the Indian futures market will open at five o’clock in the evening. There has been a huge fall in the prices of gold and silver in the futures market of India. In such a situation, the price of precious metals may fall further in the coming days. Let us also tell you how much the price of gold and silver has become in foreign markets and what kind of impact can be seen in the prices of these two metals in the Indian futures market.
Gold and silver prices in foreign market
There is a decline in the prices of gold and silver in the foreign market. First of all, if the price of gold is down, it is trading at $ 1732.70 per ons, with a fall of 2 dollars per ounce. Whereas Gold Spot is trading at $ 1731.04 per ons with a fall of $ 1.48 per ons. On the other hand, silver is trading 0.77 per cent lower at $ 24.92 an ons in the COMEX market. While the price of Silver Spot is down by 0.81 per cent, it is trading at $ 24.86 per ons.
How cheap has become cheaper in India
First of all, gold has seen a decline in the price of gold in the Indian futures market in the last one week. According to data from the futures market, gold has become cheaper by Rs 379 per ten grams in a week. On Friday, gold had closed at Rs 44,642 per ten grams. Whereas before that, gold had closed at Rs 45021 on March 19. In such a situation, there is a continuous decline in the price of gold. Let us tell you that from the month of August 2020 till now, the price of gold has seen a decline of Rs 12000 per ten grams.
Fall in the price of silver
On the other hand, the price of silver has fallen by more than 7 times compared to gold. According to data from the futures market, silver has become cheaper by Rs 2722 per kg in the last one week. According to the data, on Friday, silver futures closed at Rs 64,805 per kg in the market. Whereas on March 19, silver was at Rs 67,527 per kg. Gold has become much cheaper since March 19.
What do you know?
Ajay Kedia, director of Kedia Advisory, says that today Indian futures will remain closed till 5 pm due to Holi. There will be regular trading in the market after five o’clock. He said that due to festive mood, demand from investors is expected to decrease. Due to which the price may fall further. The price of gold and silver can be seen in the month of April.