There is slight pressure on gold in the domestic market but still it is beyond 50 thousand. On Monday, the rupee recorded strength for the fifth consecutive day.
Gold and silver broken up to Rs 480.
selling in global markets and improvement in rupee ,Dollar vs Rupees) between Delhi on Monday gold in bullion market ,Gold Price today) fell by Rs 212 to Rs 49,827 per 10 grams. HDFC Securities gave this information. Due to this, gold had closed at Rs 50,039 per 10 grams in the previous trading session. corresponding to Silver ,silver price today) also came down to Rs 63,329 per kg with a loss of Rs 480. Silver had closed at Rs 63,809 per kg in the last trading session. On Monday, the rupee made gains for the fifth consecutive trading session and it gained 11 paise on Monday amid weakness in the dollar and falling crude oil prices.Dollar vs Rupees) closed at 74.55. Crude oil prices fell on hopes of a solution to the Russia-Ukraine crisis, supporting the rupee. The rupee opened strong at 74.51 per dollar in the interbank foreign exchange market. It went up to the day’s high of 74.35 per dollar.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “The spot price of 24 carat gold in Delhi fell by Rs 212. Selling in gold in Comex and strengthening of rupee, gold came down here.” In the international market, gold was down at $ 1,893 an ounce. On the other hand, silver was also trading with a slight loss at $ 23.78 an ounce.
gold and silver price in domestic market
There is slight pressure on gold in the domestic market but still it is beyond 50 thousand. On MCX, gold for delivery in April at 5 pm was trading down by Rs 79 at 50033 per ten grams. Gold for June delivery was trading at the level of 50244 with a fall of Rs 54. March delivery silver was down by Rs 386 at Rs 63516 level, silver for May delivery was trading at 64420 level and silver for July delivery was down by Rs 456 at Rs 65150 per kg level.
Crude oil is seeing a decline
Jatin Trivedi, Senior Analyst, LKP Securities said, “The rupee remained strong in the range of 74.55 per dollar amid the fall in the dollar index. Crude oil prices fell below $ 95 per barrel, which supported the rupee. Meanwhile, the dollar index fell 0.26 percent to 95.79. Brent crude was trading lower at $ 93.51 a barrel amid hopes of a solution to the Russia-Ukraine dispute.
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