Gold Rate: On the occasion of Rakshabandhan, there is a big fall in gold, know the latest prices of 10 grams of jewelery gold.
Gold Rate : If you are thinking of buying gold, then the special festival of Rakshabandhan has brought a great news for you. Amidst the fall in the markets around the world, a fall in the prices of gold has also been recorded in India. In the Delhi bullion market, gold fell by Rs 347 to Rs 52,709 per 10 grams on Thursday.
Jewelery gold also rolled
The price of jewelery gold i.e. 22 carat gold has also seen a softening today. According to the traders of the bullion market, today the price of 10 grams of 22 carat gold has been recorded at Rs 47350. Let us inform that on July 1, the price of gold was Rs 47850, since then the prices have fallen by up to Rs 500. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Inflation in the US and gold easing on bearish concerns recorded losses.”
fall in silver
According to HDFC Securities, the price of silver is also declining. Silver also declined by Rs 455 to Rs 59,103 per kg. Let us inform that in the last trading session, the yellow metal had closed at Rs 53,056 per 10 grams. In the international market, gold was trading lower at $ 1,787 an ounce. Silver was almost steady at $20.45 an ounce.
Investors sell off gold ETFs
Investors withdrew Rs 457 crore from Gold Exchange Traded Funds (ETFs) during July, 2022. Investors put their money in other asset classes which has led to this withdrawal. This information has been received from the data of Association of Mutual Funds in India (Amfi). According to the data, in June 2022, there was a net investment of Rs 135 crore in the ETF. Kavita Krishnan, senior analyst at Morningstar India, said investors have pulled out of gold ETFs due to the fall in the yellow metal’s prices due to rising interest rates. He said the depreciating rupee has also affected the demand and supply of gold. This trend has also been observed globally, with investors pulling out of gold ETFs due to low gold prices. With this withdrawal, the assets under management in gold ETFs have come down to Rs 20,038 crore from Rs 20,249 crore in June.
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