Gold rate Break the run of green tea.. The price has come down to Rs. 72,200-Namasthe Telangana

Gold rate Gold prices have calmed down. The prices, which hit record highs on a daily basis, are now on the decline.

April 24, 2024 / 08:12 AM IST

• Rs.1,450 reduced balance on the same day

New Delhi, April 23: Gold prices calmed down. The prices, which hit record highs on a daily basis, are now on the decline. The prices of the precious metals in the international market are falling and the prices have fallen sharply as traders tend to book profits. In the Delhi bullion market, the price of bullion fell by Rs.1,450 on Tuesday. At the end of the bullion market, the price of copper fell to Rs.72,200. The previous day’s price was Rs.73,650. Meanwhile, the price of 24-carat pure Libra gold in Hyderabad fell by Rs.1,530 to Rs.72,160. Earlier it was recorded as Rs.73,690. Also, the price of 22 carats decreased by Rs.1,400 to Rs.66,150.

The common man hesitated to buy as the prices reached a peak. A bullion trader said that since it is the wedding season, only those who are urgent have bought gold, but those who want to make investments have done so. The Kolkata Bullion Association has expressed concern that gold sales have fallen by 15 percent to 30 percent after reaching historic highs. It is known that the price has increased by more than Rs. 10 thousand in the last ten days as the investors diverted their investments towards safe gold due to the situation of tension between Iran and Israel.

Heavy reduced silver

Along with gold, the prices of silver have fallen drastically. Silver fell as purchases from industrial groups and coin makers stopped. Silver fell by Rs.2,300 per kg from Rs.85,800 to Rs.83,500. In Hyderabad too, silver has decreased by Rs.2,500 to Rs.86,500 per kg. Earlier it was Rs.89 thousand. On the other hand, the price of an ounce of gold fell by 55 dollars in the international market. Spot gold price on Comex continues at $2,310. Prices fell further on Tuesday as well. Sources of HDFC Securities revealed that the main reason for the decline in prices is the easing of tensions in the Middle East and the fact that the US Federal Reserve is unlikely to cut interest rates now, and investors are shifting their investments from gold to equities. It is expected that the price of gold in MCX may come down to Rs.70 thousand mark in the next few days.