The rise in dollar prices in the international market has led to a fall in gold prices. Due to dollar being expensive, the demand for gold reduces because its prices increase for other currency holders. The effect of this is being seen in the domestic market and the fall in the price of gold and silver is being seen.
Due to the strengthening of the dollar, the demand for gold has decreased and this has affected the domestic market. The demand for gold decreases as the dollar becomes expensive. Because other currency holders have to buy gold at a higher price.
Gold and silver prices fall in MCX
On Thursday, gold in MCX fell by 0.36 per cent, ie Rs 177 to Rs 48,688 per ten grams, while silver fell by one per cent and fell by Rs 666 to Rs 65,870 per kg. Spot gold sold at Rs 48814 per ten gram in Sarafa Bazar, Ahmedabad, while the price of Gold Future was Rs 48740 per ten gram. On Wednesday, gold fell by Rs 231 to Rs 48,421 per 10 grams in the Delhi market.
Gold and silver shine faded in international market
In the international market, gold and silver prices remained at $ 1,850 and $ 25.41 per ounce respectively. Prior to the US Federal Reserve’s monetary policy decision, gold prices showed stability. At the beginning of January this year, gold prices had reached 51,660, but now gold remains around 48,500 per 10 grams.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.