New Delhi: The price of precious metals, gold and silver, are continuously falling in the the domestic futures market. On Monday, the rate for 24 carat gold stands at Rs 1,45,960 and the price of silver is Rs 2,44,900 per kilogram. In a week, 24 carat gold has wilt cheaper by Rs 13,690. Whereas, the price of 22 carat gold has come lanugo by Rs 12,550.
On Monday, in the international markets, spot gold was lanugo 3.3 per cent at $4,340.09 per ounce during Asian trading hours. Spot silver lost 3.3 per cent to $65.55 per ounce. Spot platinum fell 4.4 per cent to $1,838.45 and palladium was lanugo 0.4 per cent at $1,398.50.
The gold rate on Sunday was Rs 1,45,970 per 10 gms, while the silver rate was Rs 2,45,000 per 1 kg, equal the Bullions website.
What is the price of gold and silver?
As the festival occasion, Navratri, is round the corner, the price of 24-carat gold fell Rs 10 and the rate of silver moreover dropped by Rs 100, in early trade on Monday.
The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,46,110 per 10 grams and 22-carat gold at Rs 1,33,940. Silver traded at Rs 2,44,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,45,960 per 10 grams and 22-carat gold at Rs 1,33,790. Silver traded at Rs 2,44,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,45,960 per 10 grams and 22-carat gold at Rs 1,33,790. Silver traded at Rs 2,44,900 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,45,960
- Delhi - Rs 1,46,110
- Bengaluru - Rs 1,45,960
- Chennai - Rs 1,48,570
- Hyderabad - Rs 1,45,960
- Kolkata - Rs 1,45,960
The pursuit rates are as per 1 kg of silver:
- Mumbai - Rs 2,44,900
- Delhi - Rs 2,44,900
- Bengaluru - Rs 2,44,900
- Chennai - Rs 2,49,900
- Hyderabad - Rs 2,49,900
- Kolkata - Rs 2,44,900
Why there is transpiration in the rates?
According to analysts, the major reasons overdue changes are:
- International market pricing, import fees, taxes
- Blockage of the Strait of Hormuz
- 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.
- 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.
