latest price of gold: There have been big fluctuations in the prices of gold and silver in India recently. In the last few days, there has been a huge fall in the prices of gold, while a decline has also been seen in the prices of silver. There are many reasons behind this change, the main ones being the strengthening of the US dollar and the global economic situation.
In this article we will learn in detail about this new change in the prices of gold and silver. Additionally, we will also discuss the reasons behind these prices and their future trends. This information can be very useful for investors and the general public.
Overview of gold and silver prices
| Description | gold (24 carat) | Silver |
| Current Price (Per 10 Grams) | ₹77,950 | ₹92,500 |
| last week’s price | ₹79,480 | ₹95,400 |
| price change | ₹1,530 less | ₹2,900 less |
| percentage change | 1.92% less | 3.04% less |
| price a month ago | ₹76,580 | ₹91,500 |
| price a year ago | ₹72,400 | ₹82,200 |
Due to fall in gold prices
There are many reasons behind this fall in gold prices:
- Strengthening of the US Dollar: When the dollar strengthens, gold prices fall.
- Global economic situation: Signs of improvement in the economy reduce the demand for gold.
- Changes in interest rates: The policies of the US Federal Reserve affect gold.
- Investors’ inclination: Investors’ inclination towards the stock market keeps them away from gold.
fall in silver prices
Silver prices have also decreased. The main reasons for this are:
- Decrease in industrial demand: Silver is used in many industries, the demand for which has decreased.
- Correlation with Gold: Fall in gold prices also affects silver.
- Increase in global supply: Prices have been influenced by the increase in silver production.
Gold Rate Today: Gold prices in major cities
Gold prices vary in different cities of India. Here are the latest prices in some major cities:
- Delhi: 24 carat gold – ₹77,810 per 10 grams
- Mumbai: 24 carat gold – ₹77,817 per 10 grams
- Kolkata: 24 carat gold – ₹77,815 per 10 grams
- Chennai: 24 carat gold – ₹77,811 per 10 grams
Silver Price Today: Silver prices in major cities
Silver prices also vary from city to city:
- Delhi: ₹92,100 per kg
- Mumbai: ₹92,100 per kg
- Kolkata: ₹92,100 per kg
- Chennai: ₹1,00,600 per kg
future of gold and silver prices
Experts’ opinion on what changes may occur in the prices of gold and silver in the coming time:
- Short-term fluctuations: Small changes in prices may continue.
- Stability in the medium term: Prices may stabilize in a few months.
- Long-term growth: Prices are likely to rise in the long term.
Tips for investors
- Diversification: Don’t just rely on gold or silver.
- Long-term outlook: Don’t be afraid of small fluctuations.
- Market monitoring: Keep an eye on prices regularly.
- Expert Advice: Consult an expert before making a big investment.
Ways to invest in gold and silver
- Physical Gold: Buying gold coins or jewellery.
- Gold ETFs: Stock exchange traded funds.
- Sovereign Gold Bond: Bonds issued by the government.
- Digital Gold: Buying gold on online platforms.
Other factors affecting gold and silver prices
- Geopolitical tensions: The impact of the global political situation.
- Seasonal demand: Demand increases during festivals and wedding seasons.
- Policies of Central Banks: Impact of Monetary Policies.
- Agricultural production: impact on gold demand in rural areas.
New trends in gold and silver market
- Digital Platform: Growing trend of online buying and selling.
- Recycled Gold: The growing importance of recycling old gold.
- Ethical Sourcing: Demand for ethically mined gold.
- Use of technology: Use of technologies like blockchain.
Interesting facts about gold and silver
- World’s largest gold producer: China
- Country having most gold: America
- Gold consumption in India: second in the world
- Biggest use of silver: In industrial sector
How to get information about gold and silver prices
- Websites: Trusted financial websites.
- Mobile Apps: Apps for real-time updates.
- TV Channel: Business News Channel.
- Jewellers: Information from local goldsmiths.
Misconceptions about gold and silver
- Gold is always a safe investment: prices fluctuate.
- Silver is a better investment than gold: both have their own advantages and disadvantages.
- Prices are always going up: this may be true in the long term, but not in the short term.
Things to keep in mind while purchasing gold and silver
- Purity check: Prefer hallmarked gold.
- Taking the bill: Make sure to take the bill of purchase.
- Price Comparison: Compare prices from different stores.
- Time of purchase: Prices may be higher during festival times.
Tax effect on gold and silver investment
- Capital Gains Tax: Lower tax on long term investments.
- GST: GST is applicable on the purchase of gold and silver.
- Income Tax: PAN card is required on big purchases.
Disclaimer:
This article is for informational purposes only. Gold and silver prices keep changing continuously as per the market conditions. Always consult a financial advisor before investing. The information provided in the article was correct at the time of writing, but is subject to change. Please check the latest prices and market conditions before taking investment decisions.
