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Gold Falls ₹200, Silver Crashes ₹3,000 in New Delhi as Strong US Dollar Weighs on Bullion
Gold Silver Price Today: Gold and silver prices have fallen for the third consecutive day. The strengthening of the US dollar has made gold cheaper by ₹200, while silver prices have fallen by ₹3,000.
Both gold and silver prices fell in New Delhi today. Gold prices were lower by ₹200, while the price of silver declined by ₹3,000. It was the third consecutive day that both metals had fallen in value. According to experts, the US dollar’s strength is diminishing the demand for gold.
According to the All India Sarafa Association, 99.9% purity of gold is available at ₹1,55,900 per 10 grams, which was ₹200 less than ₹1,56,100 on Thursday. Silver prices fell sharply by ₹3,000, making its price ₹2,47,000 per kilogram, down from ₹2,50,000 per kilogram on Thursday.
Saumil Gandhi, senior analyst at HDFC Securities, said that gold remained under pressure amid rising tensions in West Asia. Fuel prices have risen due to the ongoing standoff in the Strait of Hormuz. Furthermore, a rise in the US dollar index and stable bond yields has also reduced gold demand.
