There is a rise in the prices of gold and silver in India. The price of gold rose by Rs 80 to Rs 60,430 per 10 grams in Delhi’s bullion market. The price of silver has gone up by Rs 400 today.
The price of gold rose by Rs 80, and silver also increased by Rs 400.
Gold Silver Price: The effect of a rise in metal prices in the international market is now visible in the Indian market. There is a rise in the prices of gold and silver in India. The price of gold rose by Rs 80 to Rs 60,430 per 10 grams in Delhi’s bullion market.
At the same time, the price of gold had closed at Rs 60,350 per 10 grams on the last trading day. Along with this, there has been a rise in the price of silver today. The price of silver has gone up by Rs 400 today. Today, the per kg price of silver in the market has reached Rs 77,100.
Rise due to global market.
Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that spot gold prices in the Delhi bullion market rose by Rs 80 to $60,430 per 10 grams compared to the previous closing price.
In the overseas markets, gold was trading higher at $1,957 an ounce, while silver was up at $24.52 an ounce. Praveen Singh, Assistant Vice President, Fundamental Currencies & Commodities, Sharekhan by BNP Paribas, said China had taken more steps to stimulate its economic growth, which has improved risk appetite. This is why the price of precious metals increased.
Silver fell by Rs 667 on Monday.
Silver prices on Monday declined by Rs 667 to Rs 74,760 per kg in futures trade as traders reduced the size of their positions amid weak demand in the spot market. Silver contracts for delivery in September fell by Rs 667, or 0.88 percent, to Rs 74,760 per kg on the Multi Commodity Exchange. There was a turnover of 17,032 lots. Globally, silver prices declined by 1.15 percent to USD 24.69 an ounce in New York.
How is the rate of gold and silver determined in India?
The market determines the price of gold and silver in India. The price is based on various factors. The prices of gold and silver are determined in major international markets, such as the London Bullion Market and the New York Mercantile Exchange. Here gold and silver trade is the main center, and their price is determined based on their regular trade.
Gold and Silver rates are published in Indian Rupees, which vary due to variations of Indian currency with foreign currencies. The trading of gold and silver involves administrative, economic, and financial factors which can affect their prices.
The prices of gold and silver can also change due to the market conditions of the Indian rupee, retail vendors, and investors from foreign countries. The rates of gold and silver are kept updated day-to-day in the markets. You can get information about the financial rate of gold and silver by checking various financial portals, financial news channels, or banks’ official websites.
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