Gold Price Today: Gold opens the 'claw' of decline, Gold becomes cheaper by Rs 2,100 in Delhi

Gold Price Today: Gold prices in the country's capital Delhi have surprised investors this week. Prices have fallen for the fifth consecutive day, which has led to a total decline of Rs 2,110 per 10 grams so far. Surprisingly, when gold prices were rising in the global markets due to geopolitical tensions, a contrary decline was seen in Delhi.

What is the reason for the decline?

According to experts, the main reason for this decline is the recent ceasefire between Iran and Israel, which has provided temporary relief in geopolitical risks. This is the reason why there was a slight softening in the demand for gold, which is known as a safe investment.

Saumil Gandhi, Senior Analyst Commodity, HDFC Securities, said, "There are mixed signals in the market, but at present gold is trading in a limited range. The ceasefire has improved market sentiment to some extent." Today's price in Delhi

According to the All India Sarafa Association, gold of 99.9% purity fell by Rs 300 to Rs 98,600 per 10 grams in the bullion market of Delhi on Wednesday. At the same time, gold of 99.5% purity fell by Rs 250 to Rs 98,050 per 10 grams.

With this, silver prices have also fallen by a big Rs 1,100 to Rs 1,03,100 per kg.

International market situation

Globally, gold prices fell marginally to $ 3,322.56 an ounce. This indicates that even though geopolitical tensions remain, there is no major jump in the international markets at the moment.

What should investors do?

Jatin Trivedi, Research Head, LKP Securities, believes that investors are now waiting for data such as the upcoming remarks of Federal Reserve Chairman Jerome Powell, US GDP figures and core PCE price index.

Chintan Mehta, CEO, Abans Financial Services, said that trade tensions and geopolitical risks may again come to the center in the coming days, which will keep the market volatile. Also, pressure in crude oil prices and dollar movement will also decide the direction of gold.