Zoom News : May 02, 2022, 10:22 PM
Gold Price Today: A day before Akshaya Tritiya 2022, there has been a huge fall in the prices of gold and silver. After a weak signal from the global market, gold prices fell by about Rs 1200 in the Multi Commodity Exchange (MCX) and the Indian bullion market and the price of gold fell below 50,500. At the same time, there has been a decline of about $ 50 in the foreign market.Why did the price of gold fall?Apart from gold, there was a decline in silver and silver fell to the lowest level of three and a half months. On MCX, silver fell by about Rs 1400 and the price reached close to Rs 62,200.The reason for the fall in the price of gold is believed to be the possibility of higher interest rates in America. At the same time, the meeting of the US central bank Federal Reserve Bank starting from Tuesday is also the reason behind this. The dollar index is close to 20-year highs and there is a heavy sell-off by big investors, which has reduced investment demand.fall before akshaya tritiyaIn the last trading session in Delhi bullion market, gold had closed at Rs 51,681 per 10 grams. Similarly, the price of silver also declined by Rs 1,228 to close at Rs 63,028 per kg. Silver had closed at Rs 64,256 per kg in the previous trading session. In the international market, gold fell to $ 1,880 an ounce, while silver was at $ 22.62 an ounce.