Gold and silver prices are constantly seeing fluctuations. Sometimes they are going up and sometimes down. After US President Donald Trump’s announcement of 25 percent tariff on India, prices are getting further fluctuations. According to the website of India Bullion and Jewelers Association (IBJA), by Friday morning 24 carat gold prices came to Rs 98534 per 10 grams, while silver came to Rs 109950 per kg. Know further what are the fresh expressions of 23, 22, 18 and 14 carat gold.
What were the prices of gold and silver on the previous day
According to the news agency language, the All India Bullion Association said that gold fell by Rs 500 to Rs 98,020 per 10 grams in the bullion market of the national capital on Thursday. Due to the strengthening of the rupee, the prices of precious metal were curbed. On Wednesday, gold with 99.9 percent purity closed at Rs 98,520 per 10 grams. In Delhi, gold with 99.5 percent purity fell by Rs 400 to Rs 97,800 per 10 grams (including all taxes) on Thursday. In the previous session, it had risen at Rs 650 to Rs 98,200 per 10 grams. In addition, silver prices fell by Rs 2,000 to Rs 1,12,000 per kg (including all taxes). It closed at Rs 1,14,000 per kg on Wednesday. In global markets, spot gold rose $ 29.10 or 0.89 percent to $ 3,304.14 an ounce. Silver in the foreign market fell 2.22 percent to $ 36.30 an ounce.
Gold and silver purity morning rate: Gold price per 10 grams gold, gold 24 carat 98534 rupees gold 23 carat 98139 rupees gold 22 carat 90257 rupees gold 18 carat 7 carat 73901 rupees gold 14 carat 14 carat 57642 rupees silver 999 109950 rupees per kg
Why did the prices of gold and silver decline?
According to the news agency language, Senior Analyst (Commodity), HDFC Securities, Soumil Gandhi said that the US dollar strengthened the US dollar due to positive American large economic figures on Thursday. This increased the pressure on bullion prices. He said that the latest GDP data indicates that the US economy has increased in the second quarter, which has led to uncertainty about the scenario of interest rates. Kayanat Chanwala, AVP of the Kotak Securities Commodity Research Department, said that the market participating will keep a close watch on the upcoming US major economic data, including individual consumption expenditure (PCE) index and unemployment claims for further guidance on the market participating monetary policy.
Gold prices in futures market
The price of gold fell by Rs 123 to Rs 98,860 per 10 grams in futures trading on Thursday amid weak spot demand. The October delivery gold contract on the Multi Commodity Exchange (MCX) fell by Rs 123 or 0.12 percent to Rs 98,860 per 10 grams. It traded for 12,207 lots. Analysts explained weak global signs due to the fall in gold prices. In international markets, gold futures in New York rose 0.82 percent to $ 3,302.15 an ounce.
Silver price in futures market
Silver futures declined by Rs 1,839 to Rs 1,11,025 per kg on Thursday by traders reduced the size of their deals. The September delivery silver contract on Multi Commodity Exchange (MCX) declined by Rs 1,839, or 1.63 percent to Rs 1,11,025 per kg. It traded for 16,633 lots. Market analysts said that silver futures prices fell mainly due to selling of businessmen at the current level in the market. Globally, silver in New York declined by 0.14 percent to $ 36.99 an ounce.
