New Delhi: Gold and silver prices continue to fluctuate amid international tension and changing strategies of investors. On Sunday, a decline was seen in both precious metals in the domestic market. Both gold and silver remained under pressure on MCX, due to which both buyers and investors are keeping an eye on the market movements.
How much did the price of gold fall?
Last week, MCX gold is currently below Rs 147,500 per 10 grams mark and MCX silver plunged to near Rs 232,700 per 1 kg level. Meanwhile, spot gold reached $4,150 per ounce, and spot silver fell below $65 per ounce.
What about silver?
Along with gold, silver also fell. Silver in July futures fell by about 2.7 per cent to Rs 244,900 per kg. A fall of about Rs 7,000 was recorded in silver during trading. Industrial demand and dollar strength increased the pressure on silver.
What is the reason for price fluctuations?
According to experts, US-Iran tension and the changing environment of the global market are directly affecting gold and silver. When geopolitical tension increases, investors buy gold considering it as a safe haven. Prices go up. But when the tension subsides a little, people start booking profits. For this reason there is pressure on prices. The strength of the dollar also makes gold expensive.
What is the rate of gold in Delhi?
On Sunday, 24-carat gold is being sold at around Rs 147,540 per 10 gram in Delhi. The price of 24 carat in Mumbai and Kolkata is around Rs 149,500 per gram. Gold is a bit expensive in Chennai, the rate there is Rs 147,700 per 10 gram. Due
Is gold still at record high?
In the last few months, gold has set new records several times. Even after today’s fall, prices remain at high levels. The future direction of gold will be decided by the global economy, the strength of the dollar and the policies of central banks. The interest rate decision of the Federal Reserve directly impacts gold.
What is the latest rate of silver?
In most cities, silver is being sold around Rs 259,900 per kg. In cities like Chennai, Hyderabad and Kerala, silver is trading at Rs 269,900 per kg. Being a metal with industrial use, silver has high volatility.
