After two consecutive days of stability, gold has lost a bit of its luster today, and silver has also lost its luster. In the capital Delhi, 24-carat gold has become costlier by ₹10 per 10 grams today, and the price of 22-carat gold has also increased by ₹10. In the last two days, the price of 24-carat gold has fallen by ₹280 per 10 grams, while the price of 22-carat gold has declined by ₹260. Talking about silver, even one kilogram of silver has become cheaper in Delhi today. After four consecutive days of stability, the price of one kilogram of silver has fallen by ₹100 today.
Gold prices according to cities
Silver prices fall after four days of stability
In case of silver, after four consecutive days of stability, its price declined by ₹100 per kg in Delhi. At present, one kilogram of silver is being sold at ₹2,49,900 in Delhi. In other major metros, it is also being sold at the same price in Mumbai and Kolkata. However, the price of one kilogram of silver in Chennai is ₹2,60,100—which means silver is the most expensive in Chennai among the four major metros.
What is the future of gold and silver prices?
According to Pranav Mer of brokerage firm JM Financial Services, the direction of gold and silver prices will be decided by the ongoing conflict between Iran and the US in West Asia. Apart from this, gold and silver investors will keep a close eye on Service PMI data, US Durable Goods Orders, GDP data, PCE Index and CPI inflation data this week. Investors will also focus on the policy decisions of RBI. Meanwhile, the Indian government has reduced the basic import prices for gold and silver; This is a move that may impact their market price. According to media reports, the basic import price of silver has been cut by about 14%, while importing gold from abroad has become cheaper by about 7.6%. This is expected to reduce the operating costs of jewelery manufacturing companies.
