New Delhi: Even though the stock markets is witnessed a boom, gold continues to fall. Gold closed at Rs.49,904 per 10 grams yesterday evening, which fell by Rs.78 in the morning to open at Rs.49,826 per 10 grams.
Gold has not been able to go above its opening price even once. That is, since it has been open, its price has been falling.
Due to low demand in the market, traders reduced their deposit deal, due to which gold fell 0.16 percent to Rs.49,428 per 10 grams on Thursday.
At the Multi Commodity Exchange, the delivery contract for delivery in October fell by Rs.80, or 0.16 per cent, to Rs.49,428 per 10 grams. Which led to a business of 6,936 lots.
In the same month, the delivery price of gold declined by Rs.68, or 0.14 per cent, to Rs.49,482 per 10 grams. It traded for 11,780 lots. For the information, the price of gold in New York fell by 0.57 percent to $ 1,857.80 an ounce.
If we talk about the international market, its condition is also weak. Meanwhile, on Thursday, the price of gold in the Delhi Sarafa market fell by Rs.485 to Rs.50,418 per 10 grams.
HDFC Securities informed that gold prices have declined for the fourth consecutive trading session. It had closed at Rs.50,903 per 10 grams in the previous day’s trade.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “24 carat gold price in Delhi There was a decline of Rs.485, reflecting the fall for the fourth consecutive trading session. “
The same was at $ 1,854 an ounce indicating softening of gold in the international market. He said that gold prices continued to fall amid a slowdown in general economic activity due to the growing infection of the virus in Europe.