New Delhi: The price of gold fell on the first day of the week. In the international market, Comex Gold Futures has fallen by 1.1 percent to $4,734.60 per ounce. On Monday, the rate for 24 carat gold stands at Rs 1,52,830 per 10 grams and the price of silver is Rs 2,59,900 per kilogram on Friday.
Spot gold price declined 1.1 per cent to $4,694.30 per ounce, its lowest level since April 7. US gold futures for June wordage fell 1.4 per cent to $4,717.80 an ounce. Spot silver fell 1.9 per cent to $74.45 per ounce.
Among other metals, platinum prices declined 1.3 per cent to $2,019.35, while palladium prices rose 0.7 per cent to $1,531.50.
The gold rate on Sunday was Rs 1,52,840 per 10 gms, while the silver rate was Rs 2,60,000 per 1 kg, equal the Bullions website.
What is the price of gold and silver?
Since the start of the US-Iran war, gold and silver have been fluctuating. The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,52,980 per 10 grams and 22-carat gold at Rs 1,40,240. Silver traded at Rs 2,59,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,52,830 per 10 grams and 22-carat gold at Rs 1,40,090. Silver traded at Rs 2,59,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,52,830 per 10 grams and 22-carat gold at Rs 1,40,090. Silver traded at Rs 2,59,900 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,52,830
- Delhi - Rs 1,52,980
- Bengaluru - Rs 1,52,830
- Chennai - Rs 1,53,810
- Hyderabad - Rs 1,52,830
- Kolkata - Rs 1,52,830
The pursuit rates are as per 1 kg of silver:
- Mumbai - Rs 2,59,900
- Delhi - Rs 2,59,900
- Bengaluru - 2,59,900
- Chennai - Rs 2,64,900
- Hyderabad - Rs 2,64,900
- Kolkata - Rs 2,59,900
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.
