US President Donald Trump has suspended the tariffs imposed on Europe. After which there is a big fall in the price of gold.
The rise in the dollar index is also believed to have helped in reducing the price of gold.
According to the All India Sarafa Association, the price of gold in the national capital Delhi fell by Rs 800 to Rs 98,500 per 10 grams.
The price of gold with 99.5 per cent purity fell by Rs 800 to Rs 98,000 per 10 grams (including all taxes). In the last trading session, gold closed at Rs 98,800 per 10 grams.
On Tuesday, the price of silver fell by Rs 1,370 to Rs 99,000 per kg (including all taxes). On Monday, silver prices closed at Rs 1,00,370 per kg. According to Kayant Chainwala, AVP-Commodity Research at Kotak Securities, gold prices are trading below $3,350 an ounce due to pressure from Brussels to accelerate trade talks with the US. Chanwala said investors are now looking at the upcoming US durable goods orders and consumer confidence data for more clues on the economic outlook amid tariff and inflation concerns.
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