by New Gold Rates Today: There is good news for gold and silver buyers. Gold and silver prices have been falling continuously for the past few days. Let’s find out the reason for this fall and today’s latest price.
A massive fall in gold prices
The price of gold has fallen by more than 1000 rupees in the last one week. This decline is more severe at the beginning of the month of Shaban. Recently, gold prices fell by Rs 750 in a day to Rs 75,650 per 10 grams of gold.
Silver has also become cheaper
Silver prices also saw a significant decline. Now silver has fallen to Rs 93,000 per kg, down by Rs 1000 in the last few days.
Reasons behind the decline
Market experts believe that there are several reasons behind this decline:
- Demand from jewelery dealers has fallen
- Changes in global economic conditions
- The strength of the dollar
Current market rate
The current price of 24 carat gold is Rs 7,324 per gram. Gold prices of other purities are as follows:
- 22 carat: Rs 7,148 per gram
- 20 carat: Rs 6,518 per gram
- 18 carat: Rs 5,932 per gram
- 14 carat: Rs 4,724 per gram
Silver prices were stable at Rs- 88,983 per kg.
Global perspective
Gold and silver prices are also fluctuating in the international market. Gold was around $2,400 on the COMEX, while silver was at $29.40 an ounce. The dollar index is currently at a four-month low, weighing on gold and silver prices.
Future thinking
Experts believe that the future of gold is bright in the coming days. A major reason for this is the possible reduction in interest rates by the US Federal Reserve. However, trade tensions with China and other geopolitical factors may cause volatility in the short term.
Tips for buyers
- The current decline provides a good opportunity to buy.
- Confirm the price with local jewelers before buying, as GST and making charges may be added to the actual price.
- Buy with a long-term investment perspective.
- Keep an eye on market movements and make wise decisions.
The current decline in gold and silver prices presents a golden opportunity for buyers. However, it is important to remember that precious metals markets can be volatile. Therefore, you should decide wisely keeping your financial goals and budget in mind. Careful investments can not only strengthen your portfolio but also provide financial security in the future.
