Gold and Silver Price: According to All India Sarafa Sangh, on Diwali day, 99.9 percent purity gold in Delhi remained at a new record level of Rs 82,400 per 10 grams. Silver also remained under selling pressure after Diwali and it fell below 95,000.

Gold Price Today: Before Diwali, the prices of both gold and silver rose and reached record levels. Gold crossed 82000 and silver also reached close to one lakh. But as soon as the festival of Diwali passed, the wind of rise in both the precious metals vanished and a big fall was seen in gold and silver. Just after Diwali, due to selling by stockists and retailers in the bullion market of the capital Delhi on Monday, gold slipped from record high and its rate fell by Rs 1,300 to Rs 81,100 per 10 grams. This information was given by the All India Sarafa Sangh.

Gold came down from the record high of Rs 82400

According to All India Sarafa Association, on Diwali day, 99.9 percent purity gold remained unchanged at its new peak level of Rs 82,400 per 10 grams in Delhi on Thursday. The price of silver also remained under selling pressure and it fell below 95,000. Silver fell sharply by Rs 4,600 to Rs 94,900 per kg, while in the last trading session on Thursday it closed at Rs 99,500 per kg. Traders said that the price of gold was affected due to sluggish demand from jewelers and retailers in the local market.

Gold prices fall by Rs 1300

On Monday, the price of 99.5 percent pure gold fell by Rs 1,300 to Rs 80,700 per 10 grams. In the last session on Thursday, it closed at Rs 82,000 per 10 grams, which was its record high level till date. Jatin Trivedi, Vice President, Research Analyst (Commodity and Currency) at LKP Securities said, "Gold prices fluctuated as gold found support around $ 2,730 on Comex, but struggled to go above $ 2,750."

Mixed sentiment expected

He said, "The results of the US election are going to come in the next two days, so mixed sentiment is expected among the market participants. Its effect will be that MCX may trade in a limited range between Rs 78,000 and Rs 79,000." At the global level, Comex gold futures rose 0.13 percent or $3.6 an ounce to $2,752.80 an ounce. On the other hand, Comex silver futures rose 0.78 percent to $32.94 an ounce in the Asian market.

What will be the situation today?

During the initial trading on MCX, a decline in the price of gold and silver is being seen. On Tuesday morning at around 9.15 am, gold was seen trading at Rs 78284 per 10 grams with a decline of Rs 138 and silver was seen trading at Rs 94144 per kilo with a decline of Rs 140. Experts have expressed hope that there can be a slight ups and downs in the rates of gold and silver in Tuesday's trading session. There is little hope of seeing a big decline in the market a day before on the second day.