Gold Silver Price Today: Gold price increased, but silver shine decreased, know why jewelery buyers are in tension?

Business Desk – Gold Silver Price Today: After a one-day decline, gold has regained its shine for the second consecutive day today, while silver has become cheaper. The price of 24-carat gold has increased by ₹ 10 per 10 grams today in the capital Delhi. 22-carat gold has also become costlier by Rs.10.

The price of 24-carat gold has fallen by Rs 1,480 per 10 grams in the last two days. The price of 22-carat gold has decreased by Rs 1,360. Talking about silver, it has become cheaper in Delhi today. After a day of stability, the price of one kilogram silver has fallen by Rs 100 today.

After a period of stability in relation to silver, prices have declined today. Earlier on April 13, the price of one kilogram of silver had fallen by Rs 5,000. As of today, silver has become cheaper by Rs 100 per kg in Delhi. It is being sold at a price of Rs 254,900.

If we look at other major metros, it is being sold at this price in Mumbai and Kolkata. However, the price of one kilogram of silver in Chennai is Rs 265,100, which means that silver is the most expensive in Chennai among the four major metros. On the one hand, the fall in crude oil prices has brought some relief to middle-class families. The rise in gold and silver rates is further increasing their financial burden during the current wedding season.

Reason for today’s increase in gold and silver prices

The main reason for the rise seen in the commodity market on Wednesday is the huge fall in crude oil prices. Crude oil prices have fallen to a three-week low, and remain around $90 per barrel. Investors had already anticipated that another round of peace talks would begin before the two-week ceasefire between the US and Iran expires; This ceasefire is going to end on 22 April.

Even on Tuesday morning, a bullish trend was seen in the commodity market, mainly due to discussions related to peace talks. On Tuesday, gold prices on MCX closed at ₹154,868 per 10 grams, while silver closed at ₹252,499 per kg.

What will be the effect of this rise in gold prices?

Investors were waiting for this boom for a long time. The reason for this is that during the big boom last year, many investors had invested in gold and silver at high prices. However, the decline that started in late January this year has disappointed investors a lot.

As far as jewelery buyers are concerned, the fall in the prices of gold and silver has proved to be a golden opportunity for the common customers. With the wedding season around the corner, the fall in prices of precious metals like gold and silver could prove helpful in reducing the wedding budget of many families. On the contrary, rising prices could pose a major challenge to middle-class families.