New Delhi: Under the pressure of yesterday's heavy fall in the yellow metal internationally, gold has weakened by Rs 400 to Rs 38,270 per ten gram and a half-month low in the Delhi Bullion Market on Thursday. Silver also lost nearly one-week low at Rs 47,120 per kg, losing Rs 1,530.
According to information received from London and New York, the gold spot broke 1.8 percent on Wednesday in the hope of ending the trade war between the US and China soon. However, due to the weakening of the dollar in the basket of other major currencies of the world, today it gained 0.3 percent to $ 1,508.61 an ounce. US gold futures for December rose by $ 2.60 to $ 1,514.90 an ounce.
Market analysts have informed that the statement of US President Donald Trump that a trade war with China can be resolved earlier than expected. He said that the weakness in the dollar is directly impacting the prices of gold and silver. However, he has also said that the prices of both precious metals will soon see a recovery.
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