Gold Prices July 2019: Gold & Silver, two fine pieces that hold individuality in the periodic table, yet stand on an equal footing in the universe of the chemicals. But when it comes to the human ordained nature, these two metals well regulate the species. Slightest fluctuation in the precious metals can cause un-slightest fluctuations in the big man’s heart, who would love/hate to see his savings rise/fall away.
As per very very recent new sources, the metal prices have undergone some changes, and we state it prior, the changes are not for your betterment. Thereby, it is advised that plebeians with a weak medical condition and high financial position get themselves seated on a warm seat where they won’t regret spending their god-forbidden last moments. Gold Prices July edged lower yesterday, reflecting a very unanimous global trend. Silver, on the other hand, the cheaper metal witnessed a sharper fall. On the Multi Commodity Exchange of India, gold futures* reduced by 0.14% at Rs.34,980 per 10 gram (Tola), October contracts fell by 0.1% to Rs. 35,560. As for Silver, the September contracts fell 0.55% to Rs.41,558 per Kg.
Gold Prices and Silver Rates
In the global markets, gold prices slipped today as investors locked in profits ahead of a major central bank meeting this month. Higher US dollar also weighed on the gold prices, as it made it costlier for another currency holder to purchase gold. This is a bit technical, but the gold in spot (current) markets was down by 0.3%, fetching a price of $1,422.03 per ounce.
It is expected that lower US interest rates in the future will put pressure on the yields of dollar and bonds, increasing the attractiveness of non-yielding gold. In the global markets, silver prices fell by 0.6% to $16.49 ounce.
Gold Prices July 2019 Reason for Fall
These pieces of news at times may bear no less grief than a terrorist attack for the investors, but they must be taken with a pinch of salt. For if the prices slump, someone may have an opportunity to buy it low and sell it higher in future times. One man’s gain is another man’s loss, however, the loss and gain never have to be equal for the markets are imperfect and this is the non-zero-sum game of Adam Smith’s Egoism=Altruism principles. Those still in despair over the fallen prices, can take shelter in the hope that eventually the prices may return back to normal and may further rise with enhanced formats of disguised inflation, to which they most often will be shielded away from, until one day they find their savings deteriorated, making them further realize that apart from money there could have been some things where they could have invested their time and effort. However, then it will be time to finally sleep on the last bed.