New Delhi: Gold prices have gone down a bit as the dollar begins its recovery. As per Good Returns, the 24-karat gold was priced at Rs 59,990 per 10 grams on March 25-26 while it has gone down to Rs 59,880 on March 27 in Delhi. The morning was not so pleasant for the yellow metal as on MCX, the April Gold Futures were trading at Rs 59,105 for every 10 grams.
The gold prices in India have gone down by Rs 110 per 10 grams for 24-karat gold. The prices for 22-karat gold, the prices have gone down by Rs 50 per 10 grams to make it Rs 54,900 today.
In the international markets, gold was trading at USD 1976.50 as it went down by 0.37 percent. As per international trade experts, gold prices are expected to go down further and might be trading somewhere between USD 1930 to USD 1950.
Gold was showing a rising trend till March 24 and even touched the Rs 60,000 mark. Anuj Gupta, Vice President of Commodity and Currency Research at IIFL Securities, said that the gold prices have gone up by 6.60 percent in March and the year-to-date prices have gone up by 7.52 percent.
As per the Head of Treasury Finrex Treasury Advisors LLP, Anil Kumar Bhansali, the foreign exchange reserves rose by nearly USD 13 billion as RBI bought dollars to keep the rupee within the range of 82-83. Dollar fell a bit on March 24 but has begun to show signs of recovery as, in the morning, USD 1 was equal to Rs 82.36.
As gold prices are expected to finish at a low at the end of the day, it is suggested to buy the yellow metal at prices between Rs 59,000 to Rs 59,500.
