New Delhi: Amid increasing geopolitical tension in the international market, gold and silver price continue to fluctuate, causing uncertainty across global markets. On Wednesday, silver prices fell by more than Rs 100 and gold also saw a decline of nearly Rs 10 per 10 grams.
COMEX gold fell 0.38 per cent to $4,502.90 per ounce, while COMEX silver declined 0.74 per cent to $75.00 per ounce in early trade.
What is the price of gold and silver?
These days, gold and silver prices are fluctuating constantly, surprising investors. Gold and silver prices are fluctuating in the international market even today.
The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,56,360 per 10 grams and 22-carat gold at Rs 1,43,340. Silver traded at Rs 2,79,900 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,56,210 per 10 grams and 22-carat gold at Rs 1,43,190. Silver traded at Rs 2,79,900 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,56,210 per 10 grams and 22-carat gold at Rs 1,43,190. Silver traded at Rs 2,79,900 per kg.
The following rates are as per 10 grams of gold:
- Mumbai – Rs 1,56,210
- Delhi – Rs 1,56,360
- Bengaluru – Rs 1,56,210
- Chennai – Rs 1,58,170
- Hyderabad – Rs 1,56,210
- Kolkata – Rs 1,56,210
The following rates are as per 1 kg of silver:
- Mumbai – Rs 2,79,900
- Delhi – Rs 2,79,900
- Bengaluru – Rs 2,79,900
- Chennai – Rs 2,89,900
- Hyderabad – Rs 2,89,900
- Kolkata – Rs 2,79,900
Why there is change in the rates?
According to analysts, the major reasons behind 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 safe 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 high level for gold is Rs 1.93 lakh, while the record high price for silver is Rs 4.20 lakh.
