New Delhi: Amid international tension and waffly strategies of investors, gold and silver prices remain volatile. On Monday, yellow and white metal prices protract to fluctuate in the domestic market. There was a slight ripen in gold prices on the Multi Commodity Exchange (MCX), while silver prices remained strong.
How much did gold fall on MCX?
Spot gold declined by $17.57, or 0.43 per cent, to tropical at $4,106.25 per ounce, while silver moreover remained under pressure, slipping nearly 1 per cent to $59.54 per ounce.
What are the latest gold rates?
The details of the prices recorded in major cities wideness the country on Monday morning are as follows.
Delhi
24 carat: Rs 14,327 per gram
22 carat: Rs 13,134 per gram
18 carat: Rs 10,749 per gram
Mumbai
24 carat: Rs 14,312 per gram
22 carat: Rs 13,119 per gram
18 carat: Rs 10,734 per gram
Chennai
24 carat: Rs 14,454 per gram
22 carat: Rs 13,249 per gram
18 carat: Rs 11,069 per gram
Kolkata
24 carat: Rs 14,312 per gram
22 carat: Rs 13,119 per gram
18 carat: Rs 10,734 per gram
What well-nigh silver price?
Along with gold, silver prices are moreover facing huge fluctuations in the market. However, silver prices in the South are a bit expensive compared to the northern cities. The price of a kg of silver in Hyderabad, Vijayawada, Chennai and Kerala is standing to remain at Rs 2,40,000. At the same time, the price of a kg of silver in Delhi, Mumbai, Bengaluru and other northern parts of the country is trading at Rs 2,35,000.
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. According 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.
