There are constant changes in gold and silver prices. Most of the trends are towards edge. According to the website of India Bullion and Jewelers Association (IBJA), by Thursday morning the price of 24 carat gold increased to Rs 100097 per 10 grams, while silver rose to Rs 115275 per kg. Know further what are the fresh prices of 24, 23, 22, 18 and 14 carat gold.
What were the price last day
According to the news agency language, the Indian Bullion Association said that gold fell by Rs 500 to Rs 1,01,020 per 10 grams in the bullion market of the national capital Delhi on Wednesday due to continuous selling of stockists. In the last trading session on Tuesday, the price of 99.9 percent pure gold closed at Rs 1,01,520 per 10 grams. In the national capital on Wednesday, gold with 99.5 percent purity fell by Rs 500 to Rs 1,00,600 per 10 grams (including all taxes). However, the price of silver remained stable at Rs 1,12,000 per kg (including all taxes) on Wednesday. In foreign markets, the spot gold in New York increased by $ 10.79 or 0.32 percent to $ 3,358.99 an ounce. Silver spot rose 1.58 percent to $ 38.51 an ounce.
What do experts say
According to the news agency language, Kayanat Chanwala, AVP of Commodity Research Department in Kotak Securities, said the spot gold remained stable around $ 3,350 an ounce. Traders are waiting for the speeches of US productive price index and retail sales as well as Federal Reserve officials for more information about the future of monetary policy. Chintan Mehta, CEO of Absse Financial Services, said the ongoing political pressure to reduce the interest rates by US President Donald Trump on Federal Reserve Chairman, Jerome Powell, has raised market concerns. This has further strengthened the gold position as a safe investment asset. According to Saumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, now traders are eyeing a conversation between US President Donald Trump and Russian President Vladimir Putin on Friday. This can give a new direction to gold prices.
Gold futures
Amidst strong spot demand, gold prices rose by Rs 243 to Rs 1,00,400 per 10 grams on Wednesday due to latest deals with bookies. The price of a October delivery gold contract on Multi Commodity Exchange (MCX) increased by Rs 243 or 0.24 percent to Rs 1,00,400 per 10 grams. It traded for 12,790 lots. Analysts said that gold prices have increased due to the latest deals with the participants. Globally, the December delivery comes gold futures in New York increased by 0.24 percent to $ 3,356 an ounce.
Silver price in futures market
Silver futures increased by Rs 1,16,899 per kg on Wednesday by increasing their deal by traders in the futures market. The September delivery silver contract on Multi Commodity Exchange (MCX) increased by Rs 1,162 or 1.02 percent to Rs 1,14,899 per kg. It traded for 15,570 lots. Analysts said that silver prices rose due to new deals by participants. Globally, silver fell by 1.24 percent to $ 38.38 an ounce in New York.
Gold and silver purity morning rate gold 24 carat Rs. 100097 per 10 grams gold 23 carat 99696 per 10 grams gold 22 carat 91689 rupees per 10 grams gold 18 carat 75073 rupees per 10 grams gold 14 carat 58557 rupees per 10 grams silver 999 115275 per kg.
