After yesterday’s sharp rise and Tuesday’s sharp fall, gold and silver prices are falling today. On Wednesday, gold and silver prices had fallen in the multi-commodity market and Indian bullion market. At 4:15 pm on Thursday, gold on MCX was trading down by Rs 380 at Rs 1,22,670, while silver fell by Rs 230 at Rs 1,54,800. The decline was much less than Wednesday’s rise. However, gold and silver prices fell further in the bullion market.
Silver fell by Rs 2,300
According to the IBJA website, the price of silver last evening was Rs 1,58,120 per kg. Today the price of 1 kg silver was Rs 1,55,840, showing a fall of Rs 2,280. Similarly, gold prices have also declined. The price of 24 carat gold today fell by almost ₹ 1,000 to ₹ 1,22,881 per 10 grams. The price of 23 carat gold was also ₹1,22,389, which is about ₹1,000 less than yesterday evening. The price of 22 carat gold fell by nearly ₹1,000 to ₹1,12,559. Similarly, the price of 18 carat gold fell by about ₹900 to ₹92,161 per 10 grams.
How much has gold fallen from its record high?
The price of gold on MCX has fallen significantly from its record high. In October, the price of 10 grams of gold had reached ₹ 1.32 lakh, which is its record high level. However, since then it has not reached that level again. Gold is cheaper by about ₹ 10,000 from that level.
Silver has become so cheap from its record high
In October, the price of silver on MCX had reached ₹ 1.70 lakh. Today the price of silver is ₹155,200 per kg. As a result, silver has also come down significantly from its record high, i.e. it has fallen by ₹ 15,000 per kg.
Should you buy gold and silver now?
The upcoming wedding season is coming. Therefore, many experts believe that you can buy gold and silver now, as demand is expected to increase. If you are thinking of buying gold and silver for investment purposes, then you should gradually invest in gold-silver ETFs every week or month. This will ensure that even if the price of gold and silver falls, you will not suffer much loss. By investing gradually you can earn huge amount in future.
