Looks like Diwali is finally here. The gold and silver prices saw a steep decline of 0.37 per cent or Rs 178 ahead of the festival. According to the multi-commodity Exchange (MCX), gold futures that were due for December 3 delivery was last seen at Rs 47,330 in a comparison with the previous close of Rs 47,622.
If you are planning to buy gold or silver then this is the right time to move ahead to the showrooms without wasting any time.
During the last trading session, gold had closed at Rs 45,576 per 10 grams in the Delhi bullion market. Apart from this, silver had closed at Rs 59,340 per kg. People consider Dhanteras as an auspicious day to buy gold, silver, utensils etc. On Wednesday, Nov. 3, 2021, the price of gold dropped 0.23 per cent and the price of silver went down to 0.03 per cent.
Like the Indian bullion markets, there was a fall in the price of gold in the international market today, while there was no significant change in the price of silver.
What are the new gold prices?
In the Delhi bullion market, on the first trading day of the week i.e. on Monday, a slight fall of Rs 37 per 10 grams was recorded in the price of gold. In the national capital, gold of 99.9 grams purity today closed at Rs 45,539 per 10 grams. Gold prices fell in the international market today and reached $1,753 an ounce.
What are the new silver prices?
Silver prices also saw a declining trend today. In the Delhi bullion market, the price of silver remained above Rs 59,000 even after a decrease of Rs 137 on Monday. Today silver closed at Rs 59,203 per kg.
At the same time, there was no significant change in the price of silver in the international market today and it reached $22.42 an ounce.
Why did the gold prices go down?
HDFC Securities Senior Analyst (Commodities) Tapan Patel said that the spot price of gold on the commodity exchange is trading at $ 1,753 an ounce and trading down at 0.44 per cent. Due to this, there was a slight impact on the sentiment of gold and the prices of gold fell.