Authors: Super UserSilver prices were at Rs 39,180 per kilogram on Saturday.
Gold prices have been coming down recently.
Around Rs 32,000 per 10 grams, gold price in Delhi is at the lowest level since mid-April.
Easing of geopolitical tensions, gains in the dollar against a basket of currencies and weak demand in the domestic markets have battered gold prices in the past few sessions, say analysts.
In the March quarter, demand for gold in India - the world's second largest consumer of the precious metal - fell 12 per cent from a year earlier to 115.6 tonnes, as jewellery demand dropped to the second-lowest level in 10 years, according to the World Gold Council.
So, is it a good time to buy gold ( Physical Gold, Gold ETFs Or Gold Bonds: Where To Invest Your Money)"Due to relaxations in tensions gold and silver prices have seen a downward trend in the last couple of weeksNorth Korea and South Korea have begun talks and agreed to de-nuclearize its nuclear tests.
Fundamentally, I still believe that gold is always 'buy' at dips and investment for long term," said Abhishek Bansal, chairman and managing director of ABans Commodities, a commodity broking and financial services company.A US trade delegation in China has been having very good conversations, news agency Reuters cited US Treasury Secretary Steven Mnuchin as saying on Friday.
Investors turned their focus to the upcoming US jobs data for fresh catalysts.
Bullion is highly sensitive to rising US interest rates because it becomes less attractive compared with interest-bearing assets.Back home, gold of 99.9 per cent and 99.5 per cent purity rose by by Rs 95 each to Rs 31,160 and Rs 31,010 per 10 grams in Delhi on Saturday, respectively, news agency Press Trust of India reported."It's a good time to invest in gold.
It can be enchased when there is turmoil in the equities market and tensions in world politics and economies," Mr Bansal added.
Mr Bansal sees gold prices to be between Rs 31,600 to Rs 32,000 in the near term (excluding GST).Silver prices were at Rs 39,180 per kilogram, according to the agency."Silver has underperformed from some time, in comparison to gold it is advisable to stay away from silver and not punt on silver at the current time and levels," Mr Bansal said.In India, gold demand fell by 12 per cent in the first quarter of this year to 115.6 tonnes compared to the same period last year due to high local gold price, according to a report by the World Gold Council (WGC).