Gold Rate On 3 Sep: Gold prices fall drastically, silver also breaks, know what is left of the rate

Gold and silver prices continue to fall in the bullion markets of the country. Spot prices of gold in the national capital fell by Rs 774 per 10 grams on Thursday. According to HDFC Securities, the price of gold in Delhi fell to Rs 51,755 per 10 grams after this tremendous decline. In the previous session, gold was at Rs 52,529 per 10 grams. According to analysts at HDFC Securities, the effect of price reduction in gold and silver globally is also being seen in domestic bullion markets. 

According to securities, the price of silver also saw a decrease of up to Rs 1,908 per kg. In this way, the price of silver in the national capital fell to Rs 69,176 per kg. At the time of closing of bullion market on Wednesday, the price of silver was at Rs 71,084 per kg. 

Internationally, gold prices fell on Thursday. In the global market, gold was valued at $ 1,934 an ounce. At the same time, silver was priced at $ 27.24 an ounce. 

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “24-carat gold fell to Rs 774 in Delhi due to the fall in international prices”.

Patel said gold prices continued to fall due to a strong recovery in the value of the dollar against major currencies. He said positive demand from the US economy has boosted investor demand for risky assets.

Navneet Damani, Vice President (Commodity Research), Motilal Oswal Financial Services, said, “The strengthening of the dollar against major currencies and better data from the US manufacturing sector have boosted expectations for a recovery in the economy dominated by coronavirus. Due to this, there was a slight drop in gold prices.