Business Desk – Gold Silver Price Today: After two consecutive days of stability, gold has lost its shine for the third consecutive day, while silver has also lost its shine for the fifth consecutive day. In the capital Delhi, the price of 24-carat gold has fallen by Rs 10 per 10 grams today. 22-carat gold has also become cheaper by Rs 10.
The price of 24-carat gold has fallen by Rs 1,110 per 10 grams in the last two days. The price of 22-carat gold has decreased by Rs 1,010. Talking about silver, the price of one kilogram of silver has also reduced in Delhi today. After five consecutive days of stability, one kilogram of silver has become cheaper by Rs 100 today.
Silver falls after five days of stability
Regarding silver, its price in Delhi fell by Rs 100 per kg after remaining stable for five consecutive days. Currently, one kilogram of silver is being sold at Rs 249,900 in Delhi. If we look at other major metros, silver is being sold at the same price in Mumbai and Kolkata. However, the price of one kilogram of silver in Chennai is Rs 254,900, making it the most expensive among the four major metros.
What is the future of gold and silver prices?
According to Pranav Mere of brokerage firm JM Financial Services, the direction of gold and silver prices will be decided by the ongoing conflict between Iran and America in West Asia. Given that there is now a ceasefire, its impact may soon be visible in the physical market.
Additionally, gold and silver investors will keep a close eye on Services PMI data, US Durable Goods Orders, GDP data, PCE Index and CPI inflation data this week. Investors will also focus on the RBI policy announcement, which is to be released today.
Meanwhile, the Indian government has reduced the base import prices for gold and silver, a move that may affect their market rates. According to media reports, the base import price for silver has been reduced by about 14%, while importing gold from abroad has become cheaper by about 7.6%. This is expected to reduce the operating costs of jewelery manufacturing companies.
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