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New Delhi: Gold and Silver prices are gradually going downhill. The price of 24-carat gold fell by Rs 1,750 to Rs 77,800 per 10 grams in the Delhi market on Tuesday. Silver decreased by Rs.2,700 to Rs.91,300 per kg. This is the second day in a row that gold and silver rates have fallen. The All India Sarafa Association said that the main reason for this is the decrease in the demand from jewelers in the domestic market as well as the significant decrease in their prices in the international market. Meanwhile, in the international market, an ounce (31.10 grams) of gold fell to 2,600 dollars at one stage, while silver decreased to 30.43 dollars. After Donald Trump’s victory in the US presidential election with a clear majority, the dollar gained strength internationally. In addition to this, the chances of ending the ongoing wars in West Asia with Russia-Ukraine under Trump’s administration are increasing.
Demand for gold and silver, known as safe-haven investment amid uncertainty, fell sharply. An ounce of gold has declined by $200 from the record high of $2,800 an ounce. It is expected to fall further to 2,500 dollars in the future.
