November 30, 2022

Gold fell by Rs 320 and silver by Rs 125 on global cues Gold Prices Today: Gold Prices Up But Silver Down, Where Are Prices Going?

Gold prices were trading higher at $1,777.56 per ounce in international markets. On the other hand, silver fell to $21.68 per ounce.

Gold rose but silver fell

Gold and silver prices have mixed signals today. On the one hand, the price of gold has increased. On the other hand, silver prices showed some softness. Despite today’s rise, gold remains below Rs 53,500, while silver is currently trading below Rs 63,000 per kg. Gold and silver prices fluctuated due to foreign market cues and rupee weakness.

Where has the price of gold and silver gone?

Gold rose by Rs 320 to Rs 53,449 in Delhi today. According to HDFC Securities, gold price direction has been in line with foreign market prices. At the same time, the effect of the limited depreciation of the rupee has also been seen. In the last trading session, gold price was at the level of Rs 53129 per 10 grams.

But on the other hand, there has been a slight fall in the price of silver. Today, silver price fell by Rs 125 to Rs 62682 per kg. At the same time, gold prices rose to $1,777.56 per ounce in the international market. On the other hand, silver fell to $21.68 per ounce.

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What are the experts’ opinions?

According to Dilip Parmar, research analyst at HDFC Securities, gold prices benefited from strong gold demand in the domestic market, rising prices in overseas markets and a softer rupee. On the other hand, Navneet Damani, Senior VP Commodity Research at Motilal Oswal Financial Services, said gold prices are at a near 3-month high as US inflation eases. On the other hand, uncertainty increased following the fall of a Russian missile in Poland, which led investors to increase their investment in gold. The effect has also been seen in prices.

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