Gold Silver Price today Gold and silver became cheaper after three sessions

 

On Tuesday, October 13, 2020, gold fell by Rs 133 to close at Rs 51,989 per 10 grams in the bullion market amid a weak global trend. It declined after three sessions. Talking about silver, it fell by Rs 875 to Rs 63,860 per kg.

 

In the international commodity market, gold was soft at $ 1,919 an ounce and silver was almost at the previous level at $ 24.89 an ounce. In this context, the market expert said that gold remained under pressure due to improvement in the dollar and the strengthening of the stock market in anticipation of the US stimulus package. In the interbank foreign exchange market, the rupee fell down seven paise to close at 73.35 per dollar.

 

On Monday, October 13, 2020, gold and silver became expensive in the domestic market due to the depreciation of the rupee against the dollar. Gold had risen by Rs 240 to Rs 52,073 per 10 grams and silver had gained Rs 786, after which it had risen to Rs 64,927 per kg. In the international commodity market, gold was trading at $ 1,925 a per ounce, while silver was at $ 25.26 a per ounce.

 

In the Indian market, gold prices have risen by 29 per cent this year in line with global levels. Analysts expect the fall in the price of gold based on the appreciation in the US dollar and general market risk perception. Analysts expect the demand for gold in India to increase in the coming festive season. Gold is always affected by widespread stimulus measures as it is widely seen as a hedge against inflation and currency depreciation.