Gold / Silver Price Today: Due to weak global cues, the price of 10 grams of gold fell by Rs 312 in the Delhi bullion market on Thursday. At the same time, a fall in the price of silver was recorded by Rs 1,037 per kg.
Big fall in the price of gold and silver
There is good news for those who buy gold and silver (Gold-Silver Price Today). Due to weak global cues, the price of 10 grams of gold fell by Rs 312 in the Delhi bullion market on Thursday. At the same time, a fall of Rs 1,037 per kg was recorded in the price of silver. According to HDFC Securities, the weakness in the global market had an impact on the domestic market and the price of gold fell.
New Gold Price (Gold Price on 5 August 2021): On Thursday, the price of gold declined by Rs 321 to Rs 46,907 per 10 grams in Delhi Bullion Hazar. In the last trading session, gold had closed at Rs 47,219 per 10 grams.
New Silver Price (Silver Price on 2021): There was a big fall in the price of silver in the Delhi bullion market. The price of one kg of silver fell by Rs 1,037 to Rs 66,128 per kg. Silver had closed at Rs 67,165 per kg in the last trading session.
In the international market, gold was trading with weakness at $ 1,810 an ounce and silver was trading flat at $ 25.37 an ounce.
Why did gold fall?
According to Tapan Patel, Senior Analyst (Commodities) of HDFC Securities, the price of gold remained weak at $ 1,810 an ounce in COMEX trading on Thursday.
Gold price may double
A fund manager says that in the next 3-5 years, the rate of gold may double as compared to the present. In the next 3-5 years, gold in the international market will be at the level of 3000-5000 dollars per ounce. In August 2020, gold reached an all-time high of $ 2075 per ounce. It is currently running in the range of $1800. At present, the 10-year US bond yield remains at 1.25 per cent, its all-time low.
Diego Parrilla predicted in the year 2016 that gold would reach record highs in the next five years. His guess was absolutely correct.
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