Gold became cheaper for the second consecutive day, know the new rates

New Delhi: Today the price of gold in the bullion market fell by Rs 1,800 to Rs 95,050 per 10 grams. According to the All India Bullion Association, today the price of gold fell by Rs 1,800 to Rs 94,600 per 10 grams. On Wednesday, gold closed at Rs 96,850 and Rs 96,400 per 10 grams. Silver prices also continued to decline for the fourth consecutive day, falling by Rs 1,000 to Rs 97,000 per kg. In the last market session, silver closed at Rs 98,000 per kg.

Global factors affect the price of gold. Gold rates depend on many factors. Many changes have been seen at the global level for the last few days. Due to the reduction in tension between India and Pakistan and the strengthening of the dollar, the price of gold is continuously falling.

Let us tell you, due to the mediation of the war between Russia-Ukraine, trade war talks between the US and China, the demand for safe investments has decreased. At the same time, due to the reduction in tension between India and Pakistan, the demand per investor in risky equities has also increased. Due to which the demand for gold has decreased. The price of gold has fallen by 3 percent within a week.

For information, let us tell you that a negative sentiment has been created for gold amid soft inflation data in the US and the possibility of interest rate cuts by the US Federal Bank. At present, traders and investors are ending their long positions and booking profits. Due to which the price of gold may decrease further for a few days.

On this, Chintan Mehta, Chief Executive Officer of Abans Financial Services said, gold prices are falling due to investors moving away from safe-assets. The agreement between the US and China to reduce tariffs for 90 days has reduced the fears of a large-scale trade war.