The US Election Result 2020, the world’s biggest event, is also affecting the bullion market
New Delhi, 06 November: The rising gold price graph came to a halt on Friday. Gold prices have also declined in the domestic market due to lower international prices. According to experts, the victory of Joe Biden in the US presidential election is considered certain. No announcement has been made yet. However, expectations of Biden’s victory have boosted gold in international markets. It is expected that the Democrats will deliver a more comprehensive economic package than the Republicans. In addition, Biden’s hopes of victory have increased. As a result, the stock market is booming while the US dollar is depreciating. Which seems to have had an effect on the bullion market.
Gold Price (5 November 2020) –
Gold prices rose by Rs 158 on Thursday in Delhi bullion market. After this, the new rates have reached Rs 50,980 per tola. On Wednesday, gold had stopped trading at Rs 50,822 per ounce.
Silver Price (5 November 2020) –
Along with gold, silver also gained on Thursday. In Delhi, silver rose by Rs 697 to Rs 62,043 per kg. Silver had closed at Rs 61,346 per kg a day earlier.
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Gold prices could rise in the coming period due to the increasing transition and uncertainty of the corona. At present, various central banks are buying more and more gold in anticipation of the future. Similarly, US-China trade tensions and Indo-China border disputes have added to the uncertainty in the international market. Similarly, the US Federal Reserve has indicated that interest rates will be around zero by 2023.