Gold Price: The price of gold rose by Rs 550 to Rs 97,350 per 10 grams in the bullion market of the national capital on Monday amid the rise in prices of precious metals in global markets. All India Bullion Association gave this information. The price of gold with 99.9 percent purity was closed at Rs 96,800 per 10 grams on Friday.
Gold with 99.5 percent purity also increased by Rs 550 to Rs 96,900 per 10 grams on Monday. In the last session, the price of gold closed at Rs 96,350 per 10 grams. However, silver fell by Rs 400 to Rs 96,700 per kg. Silver was Rs 97,100 per kg in the last trading session.
Gold price due to softening of dollars
Gold spot in international markets increased by $ 46.34 to $ 3,286.83 an ounce. AVP-Join Research Kayanat Chanwala in Kotak Securities said, “Gold increased to $ 3,280 an ounce due to softening of the dollar before the two-day Federal Open Market Committee (FOMC) meeting of the US Federal Reserve starting on Tuesday.”
He said, “… The market participants are cautious on the press conference after the decision of Jerome Pavel, the chairman of the Federal Reserve. Apart from this, the risk of uncertainty about American-China trade developments is likely to be vigilant. “Silver’s spot price increased by 1.24 percent to $ 32.41 an ounce.
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