Gold closed at the level of 45 thousand this week amid the rise in US bond yield. On MCX, gold for April delivery gained Rs 57 to Rs 45008 per ten gram. Similarly, gold for June delivery fell by Rs 9 to close at Rs 45300. In the international market, gold closed at $ 1743.90 per ounce in the last trading session with a gain of Rs 11.40 (+ 0.66%).
Silver closed at Rs 67500 per kg this week. Silver for May delivery closed at Rs 67453 per kg, down by Rs 294 in the last trading session of the week. Similarly, silver for July delivery declined by Rs 153 to close at Rs 68590 per kg. In the international market, there is pressure on the price of silver. It closed at the level of $ 26.33 an oz.
Bond Yield at one-year high
Talking about the US bond market, the 10-year bond yield closed at 1.73 per cent this week. It is at the highest level of almost 1 year. Bond yield refers to the interest rate. The dollar has declined on the last trading day of the week. It closed at the level of 91.74 with a fall of 0.12 points. Crude oil is trading at $ 65 level in the international market. Crude oil closed at $ 64.55 a barrel in the last trading session of this week. US crude has closed at $ 61.46 a barrel.
Prices have fallen 22 percent from the record
During the Corona period, there was a continuous rise in the prices of gold. In the month of August, gold prices were at a record level. In August, it reached the mark of Rs 57008 per 10 grams, which was a record high of gold. Now the prices of gold have come down by about 22 percent from this range. Actually in the budget, when it was announced to reduce import duty on gold. Since then, there has been a decline in the prices of gold. Finance Minister Nirmala Sitharaman had cut imports on gold and silver by 5 percent in the recent budget. Now, instead of 12.5 percent on gold and silver, only 7.5 percent import duty will have to be paid. Since the announcement of the Finance Minister, the prices of gold and silver are declining.
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