Gold rate today: The past seven days have been tough for gold investors as the price of gold has kept falling. Investors had hoped for a bullish momentum in the yellow metal. Many are still hoping to see a rise on Friday.
The price of 24-carat gold slipped by ₹10 in early trade on Thursday, with ten grams of the yellow metal trading at ₹1,21,470, as per the GoodReturns website. Silver prices also declined by ₹100, with one kilogram of the metal selling at ₹1,50,900.
The price of 22-carat gold fell by ₹10, with ten grams selling at ₹1,11,340. The price of ten grams of 24-carat gold was ₹1,21,470 in Mumbai and Kolkata, and ₹1,23,270 in Chennai. In Delhi, ten grams of 24-carat gold cost ₹1,21,620.
In Mumbai, ten grams of 22-carat gold were priced at ₹1,11,340 — the same rate as in Kolkata, Bengaluru, and Hyderabad, while in Chennai it was ₹1,12,990.
Gold prices in India went down because international gold prices dropped. This happened as investors felt less worried and took some profits. Experts say that if the US Federal Reserve cuts interest rates or if the US government shutdown continues, it could make investors cautious and push gold prices up.
Silver Rate Today
According to GoodReturns, The price of silver in India saw some correction on Thursday. Silver rate in India declined to Rs 151 per gram and to Rs 1,51,000 per kilogram. Silver prices have witnessed a sharp jump over the past four to six months. The massive surge in silver rates is driven by strong industrial demand of the precious metal and its supply side crunch.
