Gold and silver prices continue to fluctuate. Sometimes the rates are increasing and sometimes they are decreasing. According to the Indian Bullion and Jewelers Association (IBJA), the price of 24 carat gold rose to ₹1,20,770 per 10 grams by this morning (Monday). The price of silver also increased to ₹1,49,125 per kg. According to the All India Bullion Association, gold prices in Delhi rose to ₹1,25,600 per 10 grams, while silver prices declined to ₹1,53,000 per kg (including all taxes). Gold fell to ₹1,21,290 per 10 grams during futures trading on the Multi Commodity Exchange (MCX). The price of silver also decreased to ₹1,48,430 per kg. In the international market (Comex), gold futures rose marginally to $ 4,020.67 an ounce, while silver futures fell to $ 48.43 an ounce. Let us know the latest 24 carat, 23 carat, 22 carat, 18 carat and 14 carat gold prices and silver price released by International Bastar Economic Association (IBJA).
Purity Morning Rate Gold 24 carat Rs 120770 per 10 gram Gold 23 carat Rs 120286 per 10 gram Gold 22 carat Rs 110625 per 10 gram Gold 18 carat Rs 90578 per 10 gram Gold 14 carat Rs 70651 per 10 gram Silver 999 Rs 149125 per kg
What was the price of gold last day?
According to the All India Bullion Association, a huge jump was seen in the prices of gold in the bullion market of the national capital Delhi on Friday, the last trading day. Gold rose by Rs 2,200 to Rs 1,25,600 per 10 grams (99.9% purity). Its closing price on Thursday was Rs 1,23,400 per 10 grams. Meanwhile, gold of 99.5% purity also rose by Rs 2,200 to Rs 1,25,000 per 10 grams, from Rs 1,22,800 in the previous trading session.
What was the price of silver last day?
Conversely, silver prices declined. In Delhi bullion market, silver fell by Rs 2,000 to Rs 1,53,000 per kg, compared to Rs 1,55,000 per kg in the previous session. Globally, spot gold fell 0.52% to $4,003.49 an ounce, while silver closed marginally higher at $48.97 an ounce.
Gold and silver futures market movements
On MCX (Multi Commodity Exchange), gold futures contracts for December delivery fell Rs 218, or 0.18%, to Rs 1,21,290 per 10 gram. About 13,223 lots were traded. Silver futures contracts for December delivery declined by ₹410, or 0.28%, at ₹148,430 per kg with a turnover of 20,217 lots.
international futures market situation
On Comex, gold for December delivery rose marginally to $4,020.67 an ounce, while silver futures fell 0.37% to $48.43 an ounce. Gold and silver futures remained under pressure due to reduced demand for safe haven investments due to possible cut in interest rates by the US Federal Reserve and temporary ease in US-China trade tensions.
expert opinion
According to All India Bullion Association, this rise in gold prices was due to fresh purchases by wholesale buyers and jewelers. HDFC Securities Senior Commodity Analyst Sumil Gandhi said that gold strengthened on the last trading day of the week due to weakness in the rupee against the dollar. He further said that despite the positive outcome of the high-level meeting between US President Donald Trump and Chinese President Xi Jinping, there remains uncertainty over the long-term economic competition between the two countries. This is why investors are again choosing gold as a safe investment.