Gold lost its shine due to silver, increased by Rs 3200 in 3 days

Even though the price of gold fell in the country's capital Delhi on Thursday, there has been a tremendous increase in the price of silver. According to the report, the price of silver in Delhi has increased by Rs 3200. 

If we talk about the price of gold, there has been a reduction of Rs 250 on Thursday. Whereas before this, the price of gold had increased by more than Rs 1100. Let us also tell you how much the price of gold and silver has become?

Gold becomes cheaper in Delhi, silver becomes expensive

In the country's capital Delhi, the price of gold fell by Rs 250 on Thursday to Rs 74,350 per 10 grams, while the price of silver rose to Rs 87,000 per kg. On Wednesday, gold of 99.9 percent purity closed at Rs 74,600 per 10 grams. However, the price of silver rose by Rs 2,000 on Thursday to a two-week high of Rs 87,000 per kg. 

In the last session, silver closed at Rs 85,000 per kg. With this, the price of silver has strengthened by more than Rs 3,200 in the last three sessions. Meanwhile, gold of 99.5 percent purity also fell by Rs 250 to Rs 74,000 per 10 grams. Its previous closing price was Rs 74,250 per 10 grams.

What the experts say

Traders said silver continued to rise for the third consecutive trading session due to strong industrial demand, which led to a jump in silver prices. In international markets, Comex gold is trading 0.21 per cent higher at $2,547.70 an ounce. 

Kaynat Chainwala, AVP (Commodity Research) at Kotak Securities, said Comex gold reached a weekly high of $2,558 an ounce, but declined after the release of the inflation report as market sentiment adjusted to the possibility of a slight cut in interest rates by the US Federal Reserve. Silver prices in global markets were also quoted at $29.16 an ounce.