Factors to consider for gold prices ahead of festive season

New Delhi (Aug 11)  Recently, gold prices marked a drop-down by Rs. 140, this might be a piece of good news for many people but it still traded above Rs. 38,000 in the capital, reported by a news agency. The gold prices settled up at Rs. 38,465 per 10g of 24k on August 10.

As per the reports, despite the fact that the prestigious metal is gaining beyond the borders, jewellers keep an easy demand and that has what led to the downgoing gold prices. The yellow metal prices touched its all-time highest rates in the recent past.

Top 5 things you should know about gold and silver prices as of now;

1. As per the analysts, at the domestic market, the decrease in the demand from the jewellers has led to the fall of gold prices, reported by a news agency.

2. Apart from this, a rise in the domestic stock markets made investors step towards riskier assets, decreasing the gold’s appeal.

3. On Friday, sharp gains were recorded by the domestic stock markets. The Sensex stopped at 255 points or 0.68 per cent more at 37,582 and the NSE Nifty 50 Index recorded 77 points or 0.7 per cent to close at 11,110.

4. On the different side, on Friday, Sovereign gold has recorded no change as it was Rs. 28,500 per 8g.

5. Between the current trade tensions between US-China, in New York, spot gold was recorded higher at $1,504 an ounce.

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