New Delhi. The prices of gold and silver have fallen amid the ongoing tension between America and Iran. Gold and silver are trading at a big decline in the multi commodity market. Gold was currently trading at Rs 1,52,799, down by around Rs 900.
Similarly, if we talk about silver, it was cheaper by about Rs 6000 and was trading at Rs 2,50,730 on MCX. This fall in the prices of gold and silver came during trading at 7 pm on MCX. However, after some time recovery was seen and silver fell by only Rs 3000, while gold fell by Rs 300.
The fall in the prices of gold and silver has come at a time when geo-political tension is prevalent. The second round of peace talks between Iran and America are not being confirmed. Besides, the Hormuz route has also been closed. The movement of ships is disrupted, due to which oil prices have increased rapidly.
rise in oil prices
The price of oil has reached 95 to 98 dollars per barrel, due to which the dollar has strengthened and inflationary pressure has increased across the world. Due to this, the prices of gold and silver have also declined.
How much did gold and silver become cheaper than the record high?
It is noteworthy that the record high level of gold on MCX is Rs 2.02 lakh and the record high level of silver is Rs 4.39 lakh. In such a situation, the price of gold has become cheaper by about Rs 50 thousand from the record high and the price of silver by Rs 1.90 lakh.
The post Just Now: Big fall in silver, gold also scattered, what happened suddenly!, read full update appeared first on Read.
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