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The main reason behind the fall in gold prices is the coming of American CPI (inflation) data today. Apart from this, the strength of the dollar and weak demand in the spot market is also behind the decline. Experts believe that it would be better to book profits in gold at the moment.
Major cities see gold price rises
New Delhi: Today, the market opened with a slight fall in the price of gold and silver on Thursday morning. The price of 24 carat gold has increased by 10 rupees to ₹ 1,10,519 at 10 grams. At the same time, the price of 22 carat gold also increased by Rs 10 to ₹ 1,01,310 per 10 grams. Gold in big cities like Delhi, Mumbai, Chennai is still being sold across ₹ 1,10,520 per 10 grams.
In Delhi, 24 carat gold is available at ₹ 1,10,670 and 22 carat gold at ₹ 1,01,460 per 10 grams. In Mumbai, Kolkata, Hyderabad and Bengaluru, 22 carat gold is being sold at a price of ₹ 1,01,310 per 10 grams. The price of 24 carat gold in Chennai has been recorded at ₹ 1,10,720 per 10 grams.
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The price of silver today has fallen by ₹ 100 to ₹ 1,29,900 per kg. Silver is available at the rate of ₹ 1,29,900 per kg in Mumbai, Delhi and Kolkata, while in Chennai it is trading at ₹ 1,39,900 per kg.
The international market has seen a slight increase in gold and silver prices. Gold has risen 0.1% to $ 3,645.04 an ounce after the US producer Price Index (PPI) weakened with expected. On Tuesday, the price of gold was at a record level of $ 3,673.95.
Silver prices are trading at $ 41.13 an ounce, platinum $ 1,392.55 (+0.5%) and Palladium $ 1,181.56 (+0.7%).
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The October gold futures on MCX closed at ₹ 1,08,681, declining 0.28%. The December silver futures closed at ₹ 1,25,000, which is 0.14% lower. On September 9, gold was at a record level of ₹ 1,09,840, but it has fallen by more than ₹ 1,000 in two days.
The main reason behind the fall in gold prices is the coming of American CPI (inflation) data today. Apart from this, the strength of the dollar and weak demand in the spot market is also behind the decline. Experts believe that it would be better to book profits in gold at the moment. At the same time, shopping at the appropriate level in silver will be a profitable deal.
Gold-silver market continues to fluctuate. Investors should monitor the market move and invest according to the advice of experts. At the moment, it is considered a better option to secure profits in gold and shop on the right occasion in silver.
