The price of gold has been reduced both in the world and local markets.
In the international gold market, the price of gold per ounce has dropped by $ 3 to $ 2767.
Meanwhile, in local markets, the price of 24ct gold per place decreased by 300 Rs, reducing it to 289.100 Rs. The price of gold per 10 grams was also reduced by 257 Rs, reaching 227,209 Rs.
Similarly, the price of silver per tone decreased by 14 Rs, reaching 3,395 Rs, and the value per 10 grams of silver was also reduced by 12 Rs, reaching Rs 2,910.
Gold prices retreated on Monday as the US dollar stabilized, and investors turned their attention to the first Federal Reserve policy this year for indications on the future of interest rates.
The gold spot fell 0.3% to $ 2,764.21 per ounce to 1010 GMT, falling from almost record levels observed on Friday. Gold’s future contracts in the US fell 0.4% to $ 2,769.30.
The dollar rose 0.1%, making gold at a dollar price more expensive for other currency holders.
“US dollar durability after the US-Colombian duty epic has forced gold prices to fall. Spot gold was also mature for technical retreat, even though his latest search for a new high record fell little,” the chief said. market analyst of Exinity Group. Han Tan.
The US and Colombia displaced tensions about a possible trade war, after Colombia agreed to accept military aircraft carrying exported immigrants.
Historically, gold was a reliable fence against geopolitical uncertainty and inflation and thrives in a low interest rate environment where lack of performance becomes less disadvantage.
Fed policymakers are largely expected to keep interest rates steady at the end of their meeting on January 28-29, according to the CME Fedwatch tool. This would mean the first pause in the interest rate reduction cycle that began last September.
Meanwhile, the European Central Bank is going to reduce interest rates by another 25 basis points on Thursday.
Otherwise, Silver Spot fell 0.5% to $ 30.46 per ounce, after a 0.9% increase last week.
“The ratio of gold to silver has risen again over 90 last week, just over its average about 85 in the last three years, suggesting that silver could be able to make further profits in relation to gold “, Frank Watson, a market analyst at Kinesis Money, refers to a note.
Palladium fell $ 1.6% to $ 971.75 and Platina rose 0.1% to $ 949.85.
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