There was a rise in gold prices in Thursday’s trading session. According to the Indian Bullion Jewelers Association (IBJA), the rate of 24 carat gold has become Rs 63,640 per 10 grams. Earlier the rate of 24 carat was Rs 63,223 per 10 grams. At the same time, the price of silver remains around Rs 74,000 per kg.
What is the rate of 22,20, 18 and 14 carat?
According to IBJA, the rate of 22 carat gold is Rs 62,120 per 10 grams. 20 carat gold is being sold at Rs 56,640 per 10 grams. The price of 18 carat gold has increased to Rs 51,550 per 10 grams. Apart from this, the price of 14 carat gold is Rs 41,050 per 10 grams.
Reason for rise in gold prices
The reason for the rise in gold prices is the purchase of gold at the global level. Gold is being bought heavily after the US Fed signaled a reduction in interest rates. Because of this, the rate of gold in the international market is running at $ 2,087 per ounce. At the same time, the rate of silver is around $24.552 per ounce. Both gold and silver remain near their highest levels.
decline in futures market
Both gold and silver are trading under pressure in the futures market. The contract of Gold for February 05, 2024 remains at 63,517 with a rise of 0.25 percent. At the same time, silver is down by 0.34 percent at Rs 75,390 per kg. The reason for weakness in gold and silver futures is lightening of positions by traders.
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