American After the strong victory of Donald Trump in the presidential elections, a period of decline in the prices of gold and silver has started. The price of gold has become cheaper by about Rs 3000 per 10 grams from its record high and the price of silver by about Rs 6000. Let us tell you that before Diwali, the price of gold had reached close to Rs 82,000 per 10 grams. Now it has reduced to 79 thousand. At the same time, the price of silver had increased to Rs 1 lakh per kg. Now the price of silver has fallen to Rs 94,000 per kg. This trend of fall in the prices of gold and silver has come after the victory of Donald Trump in the US presidential elections. Commodity experts say that this period of decline in the prices of gold and silver will continue in future also. There will be a bigger fall in gold and silver in the coming days. Let us know how cheap gold and silver will be.
That's why gold and silver are becoming cheaper
Anuj Gupta, Head of Commodity and Currency, HDFC Securities told India TV that the dollar index has regained strength after Trump's victory. This is affecting both the precious metals, due to which the prices of both are falling. At the same time, Saumil Gandhi, Senior Analyst – Commodity at HDFC Securities, said that after the victory of Donald Trump, the demand for gold as a safe investment option has decreased due to the flow of capital towards risky assets like Bitcoin and stock markets. This led to a decline in gold. Besides, rise in US bond yields and surge in the US dollar further impacted the value of the precious metals, Gandhi said.
How cheap will gold and silver be now?
According to Anuj Gupta, by December the price of gold may decrease by Rs 3000 to Rs 4000 per 10 grams. At the same time, if we talk about silver, we may see a fall of Rs 5000 to Rs 6000 per kg in the price of silver. The price of silver will be seen below 90 thousand. At the same time, the price of silver can reach around Rs 72 to 73 thousand per 10 grams.
Image Credit: India_Tv.