New Delhi: Gold and silver prices fell in early trade on April 28. Gold rates fell by increasingly than Rs 150 on the MCX, while silver slipped by increasingly than Rs 1,300. On Tuesday, the rate for 24 carat gold stands at Rs 1,53,000 per 10 grams and the price of silver is Rs 2,59,900 per kilogram.
In the international market, spot gold is at $4,693.04 per ounce and the spot silver is trading at $75.91 per ounce.
The gold rate on Monday was Rs 1,53,710 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?
Gold and silver prices have moreover seen a slight ripen in the bullion market. 24-carat gold is trading at Rs 1,53,000, lanugo Rs 710 per 10 grams. Similarly, silver is moreover trading at Rs 2,59,900, lanugo Rs 100.
The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,53,150 per 10 grams and 22-carat gold at Rs 1,40,400. Silver traded at Rs 2,59,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,53,000 per 10 grams and 22-carat gold at Rs 1,40,250. Silver traded at Rs 2,59,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,53,000 per 10 grams and 22-carat gold at Rs 1,40,250. Silver traded at Rs 2,59,900 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,53,000
- Delhi - Rs 1,53,150
- Bengaluru - Rs 1,53,000
- Chennai - Rs 1,53,820
- Hyderabad - Rs 1,53,000
- Kolkata - Rs 1,53,000
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 2,65,000
- Hyderabad - Rs 2,65,000
- 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.
