Gold-Silver Price : Gold was trading at Rs 75,914 per 10 grams on MCX, down by Rs 739. Which was 0.96% below yesterday’s closing price of 76,653. Silver was trading at Rs 88,137 per kg with a huge drop of Rs 2243 during this period.
Gold-Silver Price: There was a massive sell-off in the commodity market on Thursday. There has been a tremendous fall in the prices of gold and silver today. Gold was trading at Rs 75,914 per 10 grams on the Multi-Commodity Exchange, down by Rs 739. Which was 0.96% below yesterday’s closing price of 76,653. Silver was trading at Rs 88,137 per kg with a huge drop of Rs 2243 during this period. Which was 2.48% below yesterday’s closing price of 90,380.
Why did the prices of gold and silver fall?
The US Federal Reserve Bank cut the rate by 0.25% on Wednesday. However, due to the weak outlook, there was a sharp sell-off in metals. Due to the Fed’s decision, the dollar index rose by one percent to reach 108 for the first time in 2 years and the 10-year US bond yield jumped to a 7-month high of over four and a half percent. There was a massive sell-off in gold and silver due to the Fed’s decision. Gold fell by $60 to $2600, while silver fell by 3.5 percent to below $30. This led to a decline in the domestic futures market today.
What is the price of gold and silver in the bullion market?
On Wednesday, the price of gold in the bullion market of the national capital fell by Rs 200 to Rs 79,100 per 10 grams. In the previous session, the price of gold with 99.9 percent purity closed at Rs 79,300 per 10 grams. After three days of decline, silver rose by Rs 500 to Rs 92,000 per kg on Wednesday.
On Tuesday, it closed at Rs 91,500 per kg. In the last three sessions, silver has fallen by Rs 5,500 per kg. The price of gold with 99.5 percent purity fell by Rs 200 to Rs 78,700 per 10 grams from Tuesday’s previous closing price of Rs 78,900 per 10 grams.
Check the price of gold and silver with a missed call
You can also check the price of gold and silver with a missed call. To know the price of 22 carat and 18 carat gold, you can give a missed call on 8955664433. You will get the rate information through SMS in a short while. At the same time, you can know the morning and evening gold rate updates by visiting the official website ibjarates.com.
Making charges and taxes are charged separately
Let us tell you that the prices released by the Indian Bullion Jewelers Association give information about the standard price of gold of different purities. All these prices are before tax and making charges. The rates released by IBJA are accepted all over the country but GST is not included in its prices. Let us tell you that while buying jewelry, the rates of gold or silver are higher because of including tax.