New Delhi: Due to the rise in transplanted oil prices and the strong dollar index, the price of gold in the country has fallen once then on Wednesday. Along with gold, the rate of silver has moreover fallen drastically. On Wednesday, the rate for 24 carat gold stands at Rs 1,50,920 per 10 grams and the price of silver is Rs 2,59,900 per kilogram.
In the international market, spot gold is at $4,586.50 per ounce. and the spot silver is trading at $74.44 per ounce.
The gold rate on Tuesday was Rs 1,53,000 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 are trading slightly lower in the international market in early trading. Commodity markets are experiencing pressure superiority of the US Federal Reserve's interest rate visualization on Wednesday. Gold and silver are once facing significant pressure due to rising tensions between the US and Iran.
The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,51,070 per 10 grams and 22-carat gold at Rs 1,38,490. Silver traded at Rs 2,59,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,50,920 per 10 grams and 22-carat gold at Rs 1,38,340. Silver traded at Rs 2,59,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,50,920 per 10 grams and 22-carat gold at Rs 1,38,340. Silver traded at Rs 2,59,900 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,50,920
- Delhi - Rs 1,50,070
- Bengaluru - Rs 1,50,920
- Chennai - Rs 1,53,810
- Hyderabad - Rs 1,50,920
- Kolkata - Rs 1,50,920
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.
