If you are planning to buy gold and silver for Karva Chauth, then there is good news for you! A big fall has been seen in the prices of gold and silver just before the festival. This can be a great opportunity for you for jewelery or investment. Till a few days ago, these prices were touching the sky, but now there is some relief in the market. Experts say that the reason for this decline is profit booking by investors. Let us know what are the rates of gold and silver today and what is the reason for this fall.
Why did the prices of gold and silver fall?
Market experts believe that this fall in prices is not due to any major global or political change, but is the result of strategic steps by investors.
The prices of gold and silver were continuously increasing for some time. This gave investors a good opportunity to make profits and they started selling. Due to this selling pressure the prices in the market came down. Usually when the dollar weakens, gold prices rise, but this time the investors’ strategy reversed the market. Because of this, despite the weakness of the dollar, gold and silver became cheaper.
Latest prices of gold and silver on MCX
A huge decline has been seen in the prices of gold and silver on the Multi Commodity Exchange (MCX). Let us know at what price these precious metals are being sold now.
fall in gold price
A decline of Rs 1,098 was recorded in the price of gold during market trading. After this, the price of gold per 10 grams became Rs 1,22,111. By 11 am today, gold saw a further fall of Rs 129, after which it was trading at Rs 1,23,080 per 10 grams.
Big shock in silver price
Silver prices have seen a greater decline than gold. The price of one kilogram of silver fell by Rs 5,955 to Rs 1,43,900. If compared with Wednesday’s record level, there has been a huge decline of Rs 6,382 in silver. By 11 am today, silver became cheaper by Rs 887 and was trading at Rs 1,48,968 per kg.
condition of international market
Fluctuations in the prices of gold and silver are also being seen in foreign markets.
The price of gold futures in the Comex market decreased by $15.40 and reached $4,055.10 an ounce. At the same time, there was a slight increase in silver spot prices, but a decline of 1 percent was seen in silver futures.
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