New Delhi: Contrary to the current trend in the global market, gold and silver prices have declined in the domestic market. Gold prices are currently slightly rising due to the strengthening of road package expectations in the American economy. At the Multi Commodity Exchange, gold fell by 0.18 per cent to Rs 88 per ten grams. At the same time, silver fell by 0.77 per cent, or Rs 516 per kg, to Rs 66,784.
Gold glitter in the international market
Gold was sold at Rs 49,442 per ten grams in Ahmedabad on Friday. At the same time, gold futures are trading at Rs. Ten grams are sold at 49351. During early trade on Friday, the price of 22 carat gold rose by Rs. 48,400, while in Mumbai it was Rs. 48,600 per ten grams. Gold hit a two-week high in international markets on Thursday. Spot gold rose 0.1 percent to 1872.25. US gold futures are up 0.3 percent at 7 1871.70 an ounce.
Gold is expected to rise in the US market
Gold fell in global markets with the prospect of a relief package for the US economy. However, it could be recorded in the near future. Inflation may also rise as the U.S. economy recovers and investors may increase their investment in gold for its hedging. Its price may increase. The new US president, Joe Byrd, made a number of decisions on the first day. This has boosted expectations in the US market. With this, the possibility of an increase in gold prices is emerging.