Precious metals are under pressure due to the ongoing tension in the Middle East. Its effect is also visible on the Indian bullion market, where gold prices have fallen drastically today. According to IBJA, the price of 24-carat gold is ₹14,558 per gram, while the price of 22-carat gold is ₹14,209 per gram. At the same time, silver is currently trading at ₹ 2,50,000 per kg.
Gold Purity Rate ( ₹) Fine Gold (999) 14,558 22 KT 14,209 20 KT 12,957 18 KT 11,792 14 KT 9,390
The price of 24-carat gold in Mumbai today (June 11) is ₹1,47,860 per 10 grams, while in Delhi it is slightly lower at ₹1,47,610. The price of 22-carat gold in Mumbai is ₹1,35,538 and in Delhi is ₹1,35,309. Furthermore, 999 pure silver price is ₹2,36,790 per kg in Mumbai and ₹2,36,390 in Delhi.
City 24K Gold ( ₹/10g) 22K Gold ( ₹/10g) 18K Gold ( ₹/10g) Silver 999 Fine ( ₹/kg) Mumbai 1,47,860 1,35,538 1,10,895 2,36,790 Delhi 1,47,610 1,35,309 1,10,708 2,36,390 Bengaluru 1,47,980 1,35,648 1,10,985 2,36,980 Kolkata 1,47,670 1,35,364 1,10,753 2,36,480 Chennai 1,48,290 1,35,933 1,11,218 2,37,480 Hyderabad 1,48,100 1,35,758 1,11,075 2,37,170 Ahmedabad 1,48,060 1,35,722 1,11,045 2,37,110
Why are gold prices falling?
Experts say that the increasing geopolitical tension between America and Iran has pushed the prices of crude oil above $90 per barrel; Due to this the dollar has strengthened and the prices of precious metals have fallen. Gaurav Garg, Research Analyst, Lemon Markets Desk, said that the strengthening of the dollar and the increase in US bond yields have put pressure on the demand for precious metals, due to which their prices have fallen in the global market.