Gold Prices Continued To Fall On Friday As Well, Cheaper By Rs 12000

Gold Prices in India

Marriage Season Is Going To Start Soon In The Country. In Such A Situation, There Is A Lot Of Good News For The People. Gold Prices Continued To Fall On Friday As Well. Gold Futures On Multi Commodity Exchange (MCX) Have Fallen By Rs 230 To Rs 44,311 Per 10 Grams. Earlier Today, The Price Of Gold Had Reached The Level Of Rs 44,217.

Gold Prices in India

Meanwhile, Silver Futures On MCX Fell By 0.82% Or Rs 476 To Rs 65,445 Per Kg. Analysts Say Higher Bond Yields Are Likely To rising In The US Dollar And Boost In The World’s Largest Economy, Based On Sentiment In The Bullion Market. The Yellow Metal Was Also Affected By The Continuous Increase Of ETFs.

In The International Market, Gold Prices Fell By 1.12% To Close At $ 1,697 An Ounce On Thursday. Until Now, Spot Gold Traded At $ 1,694.65 An Ounce. However, Analysts Believe That The Overall Trend Of The Yellow Metal Is Still Sharp And Is Unlikely To Sustain The Current Level Of Gold.

Hitesh Jain, Lead Analyst (Institutional Equities), Yes Securities, Said There Is A Wide Divide Between Markets And Central Banks, With Markets Valuing Higher Inflation And Growth, While Central Banks Are Adjusting And Working. Recently Gold Prices Have Declined Given Rising Sovereign Yields. We Do Not Think That There Will Be A Steady Increase In Yields.

He Said That Central Banks Would Eventually Curb Yields With Their Asset Purchases and Help Their Respective Governments To Keep Borrowing Costs Down.