new Delhi. Gold and silver prices have seen a drop today. Due to weak signals from foreign markets, the spot market has seen a softening trend in gold and silver. Gold fell below the level of 52 thousand rupees with the fall. On Tuesday, gold fell by Rs 133 to close at Rs 51,989 per 10 grams in the Delhi Bullion Market. After three sessions, this decline has been recorded. In the previous trading session, gold had closed at Rs 52,122 per 10 grams. On the same lines as gold, silver fell by Rs 875 to Rs 63,860 per kg in today’s trade. The previous day’s closing price was Rs 64,735. Today, in the international market, gold was down softly at $ 1,919 an ounce and silver remained at around $ 24.89 an ounce. HDFC Securities Senior Analyst (Commodity) Tapan Patel said gold was under pressure from the stock market in anticipation of an improvement in the dollar and the US stimulus package, which led to a softening of prices.
Like the spot market, the futures market has also seen a decline. Due to weak spot market demand, traders cut their deals, leading to a fall of 0.24 per cent to Rs 50,986 per 10 grams in the futures market on Tuesday. The December gold futures contract for 15,294 lots was traded at the Multi Commodity Exchange. At the same time, on Tuesday, traders in the local futures market reduced the size of their silver deals due to weak spot market demand, which led to the fall in silver futures prices. At the Multi Commodity Exchange, silver for the December contract fell 0.6 per cent to Rs 62,719 per kg. It traded for 16,347 lots.