A decline in the prices of gold and silver has been recorded amid the wedding season. 24 carat gold has become cheaper by Rs 3500 in two days. The market got relief from dollar strengthening and reduction in global tensions.
Gold Silver Price Today: There has been news of relief from the bullion market amid the wedding season. A decline in the prices of both gold and silver has been recorded on the trading day of 18 February. There were continuous fluctuations for the last few days, but now the customers have got some relief due to the price coming down. The strengthening of the dollar and signs of reduction in geopolitical tension globally have directly impacted the domestic market.
In the last two trading days, 24 carat gold has become cheaper by about Rs 3500 per 10 grams. At a time when wedding shopping is in full swing in the country, this fall in prices is considered a relief for the customers.
Why did the prices of gold and silver fall?
Gold prices often come under pressure when the dollar strengthens in the international market. Apart from this, due to reduction in global tension, the demand for gold as a safe investment reduces somewhat. Its effect is also visible on the domestic rate.
Experts believe that at present there are signs of stability in the market, but prices may change again in the coming days depending on international developments and the movement of the dollar.
Silver price also softened
A decline in the price of silver has also been recorded in the major metros of the country. In Delhi, Mumbai and Kolkata, the price of 10 grams of silver is Rs 2550. That means, to buy 100 grams of silver, you will have to spend Rs 25,500.
Whereas in Chennai the price of 10 grams of silver remains around Rs 2600. This softening of silver prices is beneficial for those customers who are planning to buy silver for marriage or investment.
Latest gold rate in Delhi
Today the price of 24 carat gold per 10 grams in the national capital Delhi is Rs 1,54,350. 22 carat gold is being sold at Rs 1,41,500 per 10 grams. Whereas the price of 18 carat gold has been recorded at Rs 1,15,800 per 10 grams.
There is a demand for jewelery in Delhi due to the wedding season, hence the decline has created a stir in the market.
gold price in mumbai
In Mumbai, 24 carat gold is available at Rs 1,54,200 per 10 grams. The rate of 22 carat gold is Rs 1,41,350. 18 carat gold is trading at Rs 1,15,650 per 10 grams.
Mumbai is the biggest bullion market of the country, hence the rates here are also watched carefully by other markets.
Gold is a little expensive in Chennai
The price of 24 carat gold in Chennai is Rs 1,55,240 per 10 grams, which is slightly higher than other cities. 22 carat gold is being sold here at Rs 1,42,300 and 18 carat gold at Rs 1,21,800 per 10 grams.
Demand for gold is traditionally higher in South India, leading to slight price variations.
Rates in Kolkata and Ahmedabad
24 carat gold in Kolkata is Rs 1,54,200 per 10 grams. The rate of 22 carat is Rs 1,41,350 and that of 18 carat is Rs 1,15,650.
In Ahmedabad, 24 carat gold is being sold at Rs 1,54,250, 22 carat Rs 1,41,400 and 18 carat gold at Rs 1,15,700 per 10 grams.
Condition of Lucknow, Patna and Hyderabad
The price of 24 carat gold in Lucknow is Rs 1,54,350 per 10 grams. 22 carat is available at Rs 1,41,500 and 18 carat is available at Rs 1,15,800.
In Patna, 24 carat was recorded at Rs 1,54,250, 22 carat Rs 1,41,400 and 18 carat Rs 1,15,700 per 10 grams.
In Hyderabad, 24 carat gold is being sold at Rs 1,54,200, 22 carat Rs 1,41,350 and 18 carat gold at Rs 1,15,650 per 10 grams.
Demand increases during wedding season
Buying gold and silver during the wedding season in India is considered part of the tradition. Gold is not only a medium of investment but also a symbol of cultural and emotional connection. Jewelery has special importance in marriage, hence even a slight fall in prices can increase purchases in the market.
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