New Delhi: Although gold prices may have risen due to rising cases of corona infection, gold prices have come down in the domestic market. Meanwhile, the Federal Reserve has indicated that it will not wait any longer to raise interest rates. Here, new cases of corona infection in countries such as France, Australia and the Netherlands have raised new questions on economic recovery in Europe. With this, the hope of a global recovery is waning. This has led to a rise in gold and silver prices in the global market.
Gold prices fell in the Delhi market
Meanwhile, on Wednesday, September 23, the MCX gold fell 0.40 per cent to Rs 50,180 per 20 grams. Silver futures rose 1.62 per cent, or Rs 993, to Rs 60,220 per kg. On Wednesday, gold was trading at Rs 50,623 per ten grams in Ahmedabad bullion market while gold futures were trading at Rs 49,937 per ten grams. Silver also declined sharply by Rs 5,781 to Rs 61,606 per kg.
Gold rebound in the global market
Globally, gold rose 0.2 per cent to 90 1,902.04 an ounce, while futures fell 0.1 per cent to 190 1,905 an ounce. Meanwhile, the holding of the world’s largest gold-based ETF SPDR Gold Trust fell 0.05 per cent to 1,278.23 tonnes. Here in India, jewelery companies are waiting for the demand to increase during the festive season. However, there is no particular momentum in sales. Meanwhile, silver rose 0.6 per cent to 26 26.92 an ounce.