New Delhi: The prices of precious metals, gold and silver, declined in the domestic futures market on Thursday tween US, Israel and Iran war. The silver prices fell 1.5 per cent and gold prices moreover weakened. The rate for 24 carat gold stands at Rs 1,54,640 and the price of silver is Rs 2,60,000 per kilogram.
In the international markets, spot gold rose 0.7 percent to $4,851.43 per ounce during Asian trading hours. Spot silver moreover rose 1.5 per cent to $76.52 per ounce.
The gold rate on Wednesday was Rs 1,57,420 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?
As the festival occasions, like Navratri, Eid, Ugadi, Gudi Padwa, are round the corner, the prices of the yellow and white metal saw ripen on Thursday.
The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,52,060 per 10 grams and 22-carat gold at Rs 1,39,400. Silver traded at Rs 2,60,000 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,51,910 per 10 grams and 22-carat gold at Rs 1,39,250. Silver traded at Rs 2,60,000 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,51,910 per 10 grams and 22-carat gold at Rs 1,39,250. Silver traded at Rs 2,60,000 per kg.
The pursuit rates are as per 10 grams of gold:
- Mumbai - Rs 1,51,910
- Delhi - Rs 1,52,060
- Bengaluru - Rs 1,51,910
- Chennai - Rs 1,56,000
- Hyderabad - Rs 1,51,910
- Kolkata - Rs 1,51,910
The pursuit rates are as per 1 kg of silver:
- Mumbai - Rs 2,60,000
- Delhi - Rs 2,60,000
- Bengaluru - Rs 2,60,000
- Chennai - Rs 2,65,000
- Hyderabad - Rs 2,65,000
- Kolkata - Rs 2,60,000
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. 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.
