New Delhi: Due to tension in West Asia, Gold prices are fluctuating continuously. After one day of stability, the shine of gold and silver has faded on Wednesday. On Monday, the rate for 24 carat gold stands at Rs 1,55,280 per 10 grams and the price of silver is Rs 2,64,900 per kilogram on Friday.
Spot gold dropped 2.2 per cent to $4,712.04 per ounce by 1:46 p.m. EDT (1746 GMT), marking its lowest level in increasingly than a week. Spot silver declined 3.9 per cent to $76.76 per ounce and platinum fell 2.7 per cent to $2,033.37.
The gold rate on Sunday was Rs 1,55,290 per 10 gms, while the silver rate was Rs 2,65,000 per 1 kg, equal the Bullions website.
What is the price of gold and silver?
Tensions between the US and Iran show no signs of abating. Gold prices are constantly changing. Wedding season is currently underway, and gold prices are skyrocketing.
The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,55,430 per 10 grams and 22-carat gold at Rs 1,42,490. Silver traded at Rs 2,64,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,55,280 per 10 grams and 22-carat gold at Rs 1,42,340. Silver traded at Rs 2,64,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,55,280 per 10 grams and 22-carat gold at Rs 1,42,340. Silver traded at Rs 2,64,900 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,55,280
- Delhi - Rs 1,55,430
- Bengaluru - Rs 1,55,280
- Chennai - Rs 1,55,990
- Hyderabad - Rs 1,55,280
- Kolkata - Rs 1,55,280
The pursuit rates are as per 1 kg of silver:
- Mumbai - Rs 2,64,900
- Delhi - Rs 2,64,900
- Bengaluru - 2,64,900
- Chennai - Rs 2,74,900
- Hyderabad - Rs 2,74,900
- Kolkata - Rs 2,64,900
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.
