The prices of gold and silver dropped in both the domestic as well as international market because of increasing tension in the Middle East region and increase in the prices of crude oil. The moment Multi Commodity Exchange (MCX Gold Silver Price) started trading at 5 pm on Dussehra, the price of gold was found falling to ₹1.45 lakh and similarly that of silver had fallen to ₹2.09 lakh per kilogram.
Similarly in the international market (gold silver price comex), till 5 pm, the price of gold was found falling to $4,135 per ounce and that of silver was found to be falling to around $57 per ounce whereas the price of crude oil went up above $111 per barrel.
The price of gold for December Delivery on the Multi Commodity Exchange became cheaper by Rs 1485 (gold price crash) than the previous day and the price of gold fell to the lowest level of Rs 1,45,781 per 10 grams (gold price today). During this period, the highest level was Rs 1,46,715. While till the time of publishing the news, it was found trading at Rs 1,46,609 (gold rate today).
Silver fell by Rs 1008 (silver price crash) from the previous day. Till the time of writing the news, it was seen trading at Rs 2,08,957 per kilogram (silver price today). During trading, its high level was ₹2,09,999 and low level was ₹2,08,820 (silver rate today). Its previous closing level was ₹2,09,828.
According to Jatin Trivedi, VP Research Analyst, Commodity & Currency, LKP Securities, profit booking at higher levels (around ₹4,190), gold was trading flat around ₹4,140 on COMEX and around ₹1,46,000 in the domestic market.
According to him, the ₹4,200 level remains a strong hurdle for gold. Furthermore, the dollar index remaining strong near 101.95 is also limiting the upside in gold prices.
Going forward, investors will be keenly watching the US Federal Reserve's interest rate decision and policy guidelines, due in late October. Price fluctuations in the bullion market are likely to continue ahead of this important announcement.
The prices of gold and silver dropped in both the domestic as well as international market because of increasing tension in the Middle East region and increase in the prices of crude oil. The moment Multi Commodity Exchange (MCX Gold Silver Price) started trading at 5 pm on Dussehra, the price of gold was found falling to ₹1.45 lakh and similarly that of silver had fallen to ₹2.09 lakh per kilogram.
Similarly in the international market (gold silver price comex), till 5 pm, the price of gold was found falling to $4,135 per ounce and that of silver was found to be falling to around $57 per ounce whereas the price of crude oil went up above $111 per barrel.
The price of gold for December Delivery on the Multi Commodity Exchange became cheaper by Rs 1485 (gold price crash) than the previous day and the price of gold fell to the lowest level of Rs 1,45,781 per 10 grams (gold price today). During this period, the highest level was Rs 1,46,715. While till the time of publishing the news, it was found trading at Rs 1,46,609 (gold rate today).
Silver fell by Rs 1008 (silver price crash) from the previous day. Till the time of writing the news, it was seen trading at Rs 2,08,957 per kilogram (silver price today). During trading, its high level was ₹2,09,999 and low level was ₹2,08,820 (silver rate today). Its previous closing level was ₹2,09,828.
According to Jatin Trivedi, VP Research Analyst, Commodity & Currency, LKP Securities, profit booking at higher levels (around ₹4,190), gold was trading flat around ₹4,140 on COMEX and around ₹1,46,000 in the domestic market.
According to him, the ₹4,200 level remains a strong hurdle for gold. Furthermore, the dollar index remaining strong near 101.95 is also limiting the upside in gold prices.
Going forward, investors will be keenly watching the US Federal Reserve's interest rate decision and policy guidelines, due in late October. Price fluctuations in the bullion market are likely to continue ahead of this important announcement.