Now Reading: Kanpur gold down Rs 5,500, silver Rs 9,500 in three days
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Kanpur gold down Rs 5,500, silver Rs 9,500 in three days
The Story in Brief
Silver prices in the Kanpur bullion market fell for the third straight day on Saturday, 14 November, dropping Rs 2,200 per kg to Rs 1,81,500. Gold saw a marginal rise of Rs 200 to Rs 1,40,000 per 10 grams, but has fallen Rs 5,500 per 10 grams over three days.
According to Uttar Pradesh Sarafa Association secretary Ramkishore Mishra, when the market opened after Diwali on Thursday, 12 November, gold was at Rs 1,41,500 per 10 grams and silver at Rs 1,88,000 per kg. On Friday, 13 November, gold fell to Rs 1,39,800 and silver to Rs 1,83,700. The continuous drop has stirred investor activity.
Indian Opinion Analysis
The three-day decline in precious metals, especially silver which has lost Rs 9,500 per kg, signals a sharp post-Diwali correction in the Kanpur market. Investors are now reacting to the falling prices, though gold's small bounce on Saturday suggests some stabilisation. The next trading session will show whether the trend holds or deepens.
Source: amarujala.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
