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If you are also preparing to buy gold, then do not postpone the decision till tomorrow. On Friday, the last trading day of the week, a big fall in gold prices has been registered. The effect of the fall in foreign markets was also visible in India today and gold fell by Rs 669 in the bullion market of the national capital on Friday. With this decline, today the price of 10 grams of gold has come down to Rs 56,754 per 10 grams. Earlier in the previous trade, gold had closed at Rs 57,423 per 10 grams.
On the other hand, if we talk about silver, a strong decline was seen here too. On Friday, silver fell by Rs 1,026 to Rs 66,953 per kg. “Spot gold was trading lower by Rs 669 per 10 grams at Rs 56,754 per 10 grams in Delhi markets,” said Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities.
Gold and silver prices also declined in the foreign market. The prices of both the precious metals fell to $ 1,866 an ounce and $ 22.12 an ounce, respectively. Gandhi said Comex gold prices declined in Asian trading hours on Friday.
fall in gold futures prices
On Monday, the gold price fell by Rs 161 to Rs 56,691 per 10 grams. On the Multi Commodity Exchange, the contract for delivery in April declined by Rs 161, or 0.28 per cent, to Rs 56,691 per 10 grams. There was a turnover of 15,476 lots. Market analysts said off-loading of positions by participants mainly influenced the fall in gold futures prices.
Silver breaks down in futures prices
Silver prices on Friday declined by Rs 276 to Rs 66,754 per kg in futures trade as participants reduced their positions amid subdued demand at the spot market. On the Multi Commodity Exchange, silver for delivery in March declined by Rs 276, or 0.41 per cent, to Rs 66,754 per kg. There was a turnover of 14,382 lots.
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