Gold and silver prices dip; Little blow to investors hoping for good returns

After continuous fluctuations for the last few days, a sharp decline in gold prices has been registered today.

New Delhi: Gold and silver prices have fallen across the country today on Thursday. The effect of weak signals in the global market is also visible on the domestic bullion market. After continuous fluctuations for the last few days, a sharp decline in gold prices has been registered today, which has increased the concern of investors, reports Dynamite News correspondent.

Today the price of 24 carat gold has reached Rs 98,170 per 10 grams, which was Rs 98,850 on July 9. That is, a decline of Rs 680 has been registered in just one day. At the same time, 22 carat gold is being sold at Rs 89,990 per 10 grams today, and the price of 18 carat gold has come down to Rs 73,630 per 10 grams.

Silver Also Faded

The shine of silver has also faded. Today the price of 1 kg silver was Rs 1,09,900, which is about Rs 900 less than before.

Rates In Select Cities

There was a slight difference in the price of gold in different cities. In Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru and other major cities, today's rates of 24K, 22K and 18K gold are as follows

City                  24K (10 gm)           22K (10 gm)          18K (10 gm)

Delhi                 ₹98,320                    ₹90,140                      ₹73,750
Mumbai            ₹98,170                    ₹89,990                      ₹73,630
Chennai            ₹98,170                    ₹89,990                      ₹74,240
Kolkata             ₹98,170                    ₹89,990                      ₹73,630
Bengaluru         ₹98,170                   ₹89,990                     ₹73,630
Chandigarh      ₹98,320                   ₹90,140                     ₹73,750
Agra                   ₹98,320                   ₹90,140                     ₹73,750
Hyderabad        ₹98,170                   ₹89,990                     ₹73,630
Ahmedabad      ₹98,220                  ₹90,040                    ₹73,670
Bhopal               ₹98,220                  ₹90,040                    ₹73,670

Today, silver prices remained almost stable but weak across the country.

Reasons For Fall

According to the All India Sarafa Association (IBJA), gold prices are falling due to weak signals from global markets and strength in the dollar. In the international market, spot gold fell by $ 11.66 to $ 3,289.81 per ounce. Due to this, investor interest in the domestic market also decreased and prices came down.

In Delhi's bullion market, gold of 99.9% purity fell by Rs 700 today to Rs 98,420 per 10 grams. At the same time, the price of silver also fell by Rs 800 to Rs 1,04,000 per kg (including all taxes).

Signal To Investors

Experts believe that this fall in the prices of gold and silver may be temporary, but further fluctuations can be seen in it. In such a situation, for those who had invested at high prices, it is time to be cautious.