Gold price crash today: There is good news for those who are planning to buy gold jewelery on Akshay Tritiya. Gold prices fell sharply for the second day in a row due to global cues. In Delhi NCR’s bullion market, gold prices fell by Rs 1,450 to Rs 72,200 per 10 grams. Experts associated with the commodity sector say that gold may fall to Rs 70,000 in the coming days and further decline if it slips below that.
Gold price crash today
Gold prices fell for the second consecutive day on weak global cues and profit booking in gold from higher levels. Gold fell by Rs 1,450 per 10 gram to Rs 72,200 per 10 gram in NCR’s bullion market on Tuesday. Not only gold but also silver is seeing a decline. The price of silver has fallen by Rs 2300 to Rs 83,500 per kg. The previous closing price of silver was Rs. 85,800 per kg.
Gold prices are falling in the international commodity market. Gold fell to a two-week low of $2298.59 an ounce. On Monday, gold saw its biggest drop in 22 months by 2.7 percent. On April 12, gold reached $2431.29 per ounce. Gold prices have fallen amid signs of easing tensions in West Asia and signs that the US Federal Reserve is keeping policy rates at a prolonged high.
Jatin Trivedi, Vice President Commodities and Currencies, LKP Securities, said gold prices continued to decline and the reason for this decline was the sharp decline in Comex Gold over the past two days. He said that gold prices may find support around Rs 70,000 in the MCX in the coming days. However, if the price falls below this level, Rs. 68,500 may be sold further.
Gold in MCX futures trading at Rs. 754 down to Rs. 70,443 per 10 gm. Earlier, June futures traded at Rs. 70,202 per 10 grams had reached a low level.
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