Tariff war: Gold, Silver prices tumble
Amid the growing trade war between the world’s two largest economies, gold and silver prices fell in the Indian bullion market on Monday (7 April). Gold prices in the Delhi bullion market fell by Rs 1,550 to Rs 91,450 per 10 grams. According to the All India Bullion Association, this decline has occurred due to heavy selling by jewelers and stockists and weak global trends.
On Friday, gold with 99.9 percent purity closed at Rs 93,000 per 10 grams. Gold with 99.5 percent purity fell by Rs 1,550 to Rs 91,000 per 10 grams. In the last market close, it closed at Rs 92,550 per 10 grams. HDFC Securities Senior Analyst Saumil Gandhi said, “Gold prices fell on Monday as panic selling continued in the equity market and other asset classes, putting pressure on the precious metal, which is considered a safe investment.”
How much did silver reach today?
Continuing its decline for the fifth consecutive day, silver prices fell by Rs 3,000 to Rs 92,500 per kg from Friday’s closing level of Rs 95,500 per kg. Silver prices have fallen by Rs 10,500 per kg in the last 5 sessions.
