Gold and silver prices are constantly changing. Sometimes prices are increasing, sometimes they are decreasing. But gold rushed to 1 lakh rupees, making a tremendous jump. According to the website of India Bullion and Jewelers Association (IBJA), till Wednesday morning 24 carat gold was Rs 100076 per 10 grams, while silver increased to Rs 112422 per kg. Know further what the fresh expressions of 24, 23, 22, 18 and 14 carat gold are.
Gold and silver purity morning rate: Gold price per 10 grams gold, gold 24 carat 100076 rupees gold 23 carat 99675 rupees gold 22 carat 91670 rupees gold 18 carat 18 carat 75057 rupees gold 14 carat 14 carat 58545 rupees silver 999 112422 rupees per kg
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 increased by Rs 800 to Rs 98,820 per 10 grams in the bullion market of the national capital on Tuesday due to heavy buying by stockists. In the last trading session, the price of gold with 99.9 percent purity was Rs 98,020 per 10 grams. In the national capital on Tuesday, gold with 99.5 percent purity increased by Rs 700 to Rs 98,500 per 10 grams (including all taxes). On Monday, its price was Rs 97,800 per 10 grams. According to the bullion association, silver prices rose by Rs 2,000 to Rs 1,12,000 per kg (including all taxes) on Tuesday. Silver had closed at Rs 1,10,000 per kg in the last trading session. Meanwhile, gold in New York fell by $ 20.95 to $ 3,352.61 an ounce. Internationally, silver spotted remained stable at $ 37.39 an ounce.
What do experts say
According to the news agency language, Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that gold prices rose on Tuesday due to the increasing consensus on the demand for gold as a safe investment and the US Federal Reserve in its meeting next month. He said that due to the soft trend of the Federal Reserve officials and the disappointing employment market report of last week, traders have increased the hope of cutting major interest rates in the upcoming meeting of the Federal Reserve in September. This has increased the enthusiasm of gold traders.
According to the news agency language, Praveen Singh, Associate Vice President (Currency and Commodity) of Mirae Asset Share Khan, said that the fall in American factory orders in June on Monday rose by about 0.30 percent on the spot gold prices and it closed at $ 3,375 per ounce. He said that the warning of a heavy duty on India on the purchase of oil from Russia by US President Donald Trump also gave gold to gold and the Indian rupee came to the NDF market to Rs 88 per dollar. Kayanat Chanwala, AVP (Commodity Research) of Kotak Securities, said that the gold remained stable around $ 3,430 an ounce, waiting for the latest data of ISM services PMI and US trade balance.
Gold prices in futures market
Amid weak spot demand, gold fell by Rs 264 to Rs 10 gram in futures trading on Tuesday to Rs 1,00,940 per 10 grams. On the Multi Commodity Exchange (MCX), the price of October delivery gold contracts fell by Rs 264 or 0.26 percent to Rs 1,00,940 per 10 grams. It traded for 14,861 lots. Analysts explained weak global signs due to the fall in gold prices. In international markets, gold futures in New York fell 0.11 percent to $ 3,369.98 an ounce.
Silver prices in futures market
Silver futures prices rose by Rs 26 to Rs 1,12,262 per kg on Tuesday due to extending their stakes by the participants in the futures market. The September delivery silver contracts on the Multi Commodity Exchange (MCX) rose by Rs 26 or 0.02 percent to Rs 1,12,262 per kg. It had a turnover of 18,706 lots. Analysts said that silver prices rose due to new deals by participants. Globally, silver fell by 0.13 percent to $ 37.36 an ounce in New York.
