According to experts, in the international market, gold is expected to reach $ 2600 and silver 3000 cents per ounce in the medium term. According to Indian markets, the spot price of gold can reach Rs 77,000 and that of silver can reach Rs 90,000. But the expert stance remains bullish on gold and silver in the long term.
After the release of election results in America, uncertainty in the economy has reduced. Due to this, the prices of the American currency dollar have started strengthening. This will create pressure on precious metals.
In between, due to the interest rate cut by the Federal Reserve for a day or two, gold Silver Had strengthened but the market is considering further decline as certain.
The stance of the incoming Trump government will also be similar which will strengthen the negative attitude towards precious metals. Meanwhile, due to the strengthening of the dollar, there was a unilateral decline in international gold prices on the first trading day of the week.
Gold futures on Comex were seen falling by $15 and trading at $2669 an ounce. Due to this, gold price in Indian markets fell by Rs 450 to Rs 78950 per ten grams.
experts say
- According to businessman Nilesh Sarda, these figures will decide the future direction of gold and silver.
- However, gold and silver have been under pressure since Trump’s victory and this pressure is expected to continue.
- After going up to $ 2669, gold futures on Comex fell to $ 2686 and below to $ 2653 per ounce.
- After going up to $31.37, silver was seen trading at $31.41 and then down at $31.09 per ounce.
This is going on in the international market
- Meanwhile, the discussion in the global markets is gaining momentum that recently there was a conversation between Donald Trump and Putin. In this, Trump advised Putin to end the war.
- Trump also spoke to the President of Ukraine on this subject and advised to end the war.
- Bullion traders believe that with this news coming into the market gold and silver made a negative start on the first day of the trading week.
- Now America’s inflation figures will be released this week.
Indore’s closing price – Gold Cadbury Rawa in cash was quoted at Rs 78950 Gold (RTGS) 78850 Gold (91.60 carat) (RTGS) Rs 72100 per ten grams. On Saturday, gold had closed at Rs 79400. Silver chaurasa was sold in cash at 92900, silver chaurasa (RTGS) at 92800, silver taunch was sold at Rs 93000 per kg and silver coin at Rs 1080 per piece. On Saturday, Silver Chaurasa Cash had closed at Rs 92900.
