Gold became cheaper
The price of gold declined on Tuesday. The price of 10 grams of gold fell by 162 rupees to 41294 rupees per 10 grams in Delhi Bullion Market. Earlier on Monday, the price of gold was increased by Rs 133. Today, the price of gold fell from Rs 41,456 to Rs 41,294 per 10 grams. There was a softening in the price of gold in the international market as well. In the global market, gold was at $ 1,579 an ounce.
Big drop in silver price
Gold as well as silver declined in price. Silver price fell by Rs 657 to Rs 47870 per kg on Tuesday. In the Delhi bullion market, the price of silver fell from Rs 48,527 to Rs 47,870 per kg.
Why the price drop
The decline in the price of gold and silver is due to the softening of the yellow metal price in the global market. The rupee has gained 11 paise against the dollar in Tuesday's trade, while global investors are focusing more on the impact of China's coronovirus outbreak, which impacted the price of gold.