Gold dips on Monday as a sign of weak domestic cues

New Delhi: Gold declined in future trade today (Monday) as a sign of weak domestic cues . Equities gain momentum in market and stock prices rise after positive signs occured in market about BJP govt in current elections. Rupee also rise against dollar today, makes gold cheeper in Indian currency that led to decrease its demand. There has been a comparatively low demand in last few days. It also has not been supported by a good demand from people and local jewelers all over the area of National capital region but mostly in Delhi.The precious metal tautens again on Monday in global markets as more of investors hold gold earlier but it lost little of its value in the event of stock market crash or bank insolvency and also is not seeking more clarity in the global trade.Due to the ongoing fluctuations in the global economy, Equities gained value which has also led to the downward moment of the gold prices in the economy. Now investors are shifting to stocks more than commodities. This led to decrease in price of gold in global economies, depriciating the demand for this commodity.Silver also showed a decline today. It showed less demand from Industrial units and coin makers in the national capital. It is not a good sign of growth as people who have invested money in gold are in deliemma now.The MCX Gold is trading at Rs 31, 791 per 10 grams, high reached to Rs 32,021 today. MCX Silver is trading at Rs 36, 577 per kilo , high reached to Rs 36, 894 today (data updated at 2:30 pm today IST ).

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