On Friday, gold and silver shone slightly in the international market due to the rise in the dollar. Gold and silver also declined in the Indian futures market due to softening of expensive metals in the international market.
On the domestic futures market Multi Commodity Exchange (MCX), gold has again fallen below the psychological level of Rs 38,000 per 10 grams and silver has also slipped below Rs 44,000 per kg.
Significantly, gold on Tuesday fell to a record high of Rs 38,666 per 10 grams on MCX. In the domestic futures market, the price of gold has risen by about 40,000 rupees in the last one month whereas, in the international market, it has risen by $ 100 an ounce.
However, due to speculation from the US bond market, there is a possibility of a slowdown due to which the gold and silver are likely to remain strong.
US bond earnings have fallen to 2007 levels. At the same time, the growth rate in Germany has been negative due to the risk of recession.
Investment firm Morgan Stanley said the global economy would be in a recessionary cycle in the third quarter if trade war continued.
