Early trade sees a decline in gold and silver prices; yellow metal is selling for Rs 54,220.
5 per 10 grams
Gold and silver prices have seen a decline in early trade today. Gold is currently selling for Rs 54,220.5 per 10 grams while silver is selling for Rs 66,700 per kg. This decline in prices comes after a slight uptick yesterday. Gold prices had risen by Rs 50 per 10 grams while silver prices had risen by Rs 500 per kg. However, both metals had given up these gains by the end of the day.
Investors remain cautious as they await more news on the US-China trade front. US President Donald Trump is set to meet with Chinese Vice Premier Liu He today, and hopes are high that the two sides will make progress on a trade deal. However, there are also concerns that the meeting could end without any concrete progress.
either way, the direction of gold and silver prices is likely to be dictated by the outcome of this meeting. If there is positive news on the trade front, prices could rise. However, if the meeting ends without any progress, prices could come under pressure once again.
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