New Delhi: The precious metals gold and silver prices showed a upward trend in early trade on Friday. Gold prices were up Rs 550, with 10 grams trading at Rs 1,61,570, while silver prices moreover showed a small proceeds in early trade, equal to GoodReturns.
The gold rate on Thursday was Rs 1,61,020 per 10 gms, while the silver rate was Rs 2,85,000 per 1 kg, equal the Bullions website.
What is the price of gold and silver?
Gold and silver prices on MCX surged marginally on Friday. However, despite this rebound, the gold and silver are still trading significantly lower than their peak levels.
According to the last week's surge in silver prices, the metal became costlier by Rs 8,584 per kilogram over the week.
The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,61,720 per 10 grams and 22-carat gold at Rs 1,48,250. Silver traded at Rs 2,85,000 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,61,780 per 10 grams and 22-carat gold at Rs 1,48,300. Silver traded at Rs 2,85,000 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,61,780 per 10 grams and 22-carat gold at Rs 1,48,300. Silver traded at Rs 2,85,000 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,61,570
- Delhi - Rs 1,61,720
- Bengaluru - Rs 1,61,570
- Chennai - Rs 1,62,550
- Hyderabad - Rs 1,61,570
- Kolkata - Rs 1,61,570
The pursuit rates are as per 1 kg of silver:
- Mumbai - Rs 2,85,000
- Delhi - Rs 2,85,000
- Bengaluru - Rs 2,85,000
- Chennai - Rs 2,95,000
- Hyderabad - Rs 2,95,000
- Kolkata - Rs 2,85,000
Why there is transpiration in rates?
According to analysts, the major reasons overdue changes are:
- Weakness in the prices of gold and silver in the international market.
- The strengthening of the US dollar, which put pressure on demand for precious metals.
- Speeding up the process of withdrawing profits by investors.
- When the dollar strengthens, spending by foreign buyers increases and this reduces demand for unscratched investments like gold and silver.
How much lower are the prices from their record highs?
Gold and silver touched their record highs on January 29. Equal to MCX, the record upper level for gold is Rs 1.93 lakh, while the record upper price for silver is Rs 4.20 lakh
