Gold and silver have become cheaper! Profit booking today after record rise

The continuous record rally in the bullion market got a break today (April 5). Correction is being seen in the rates of gold and silver in the Indian and global markets. Investors are booking profits in both the metals. However, the sentiment for the bullion market is still positive. Because interest rates are expected to decrease in the future as per Fed policy. Also, due to increasing tension in the Middle East, the demand for safe investments is increasing. Let us tell you that in the domestic market, gold has increased by more than 20% in 6 months.

There was a break on the record rise in gold

There was a decline in the rates of gold and silver in the Indian market, which were continuously making record highs. Today the June contract of gold has slipped by about Rs 320 on MCX. The rate of 10 grams of gold is trading at Rs 69390, whereas on Thursday itself the price reached Rs 69918 per gram. There is softness in silver also. The rate of May contract has slipped to around Rs 1100. 1 kg silver slipped to Rs 78878.

Gold and silver slipped in global market also

Like the domestic market, softening of bullion is also being seen in the global market. Gold has fallen by about $13 on COMEX and slipped below 2300. Currently the price is trading at $ 2295 per ons. The rate of silver has also fallen by two and a quarter percent and slipped below $27, which is at $26.60 per ons. Investors are keeping an eye on US FED policy and increasing tension in the Middle East.