A decline in the prices of gold and silver is seen during the wedding season. Gold prices, which had increased to ₹ 45,000 a year ago, are now seeing a decline. Along with gold, the shine of silver is also fading. Gold has been continuously falling for the last few days. On Tuesday, November 18, gold again became cheaper and its price fell by ₹ 1,558.
How much did gold become cheaper today?
According to the rate list released on the website of India Bullion and Jewelers Association (IBJA), 24 carat gold has fallen by ₹ 1,558 today. Gold has become cheaper by ₹ 5,000 in three days. Gold, which was sold for ₹ 1,26,554 three days ago, has come down to ₹ 1,21,366. The hunger for gold has ruined the accounts of the country. Why is India buying expensive gold? Procurement worth ₹1,30,411 crore in a month has become a headache for the government.
The price of 24 carat gold is ₹1,20,880 per 10 grams.
The price of 22 carat gold is ₹1,11,171 per 10 grams.
The price of 18 carat gold is ₹91,025 per 10 grams.
Silver is being sold at ₹1,51,850 per kg.
Why is gold falling?
The price of gold is determined by global fluctuations. Reduction in global tensions, improving relations with the US and emerging agreements on trade agreements are causing the fall in gold prices. Gold is considered a safe investment. People buy it in times of volatility. As global tensions are decreasing, investors are withdrawing money from gold and investing in the market. Meanwhile, gold price is falling due to profit booking.