Gold-Silver Rate: Big change in gold and silver after America-Iran agreement, check today’s rate before buying

A very important news is coming from the Indian bullion market today (June 23) for those buying gold and silver. Today, slight fluctuations have been seen in the prices of gold and silver in the domestic market. In fact, due to the recent peace agreement between America and Iran, there has been increased turmoil in the global market and investors have become very cautious.

Under this agreement, there is great hope for the complete reopening of the Strait of Hormuz, which has changed the entire situation of the global market. On the other hand, due to the approaching wedding season in the country, the demand for gold in the domestic market has remained very strong and stable.

Know why this change in prices is coming?

Market experts say that the activities of the international bullion market and the movement of the dollar against the rupee are having a direct impact on the prices of gold and silver in our country. According to experts, till now there has been no huge and sudden rise in these precious metals which are considered safe. Investors are making their important investments only after fully understanding the current economic situation and international affairs. This is the reason why at present the rates of precious metals in major cities of India are moving within a limited range only.

Slight rise in gold prices, August futures reach record level

In the domestic market today, gold prices are mainly seen to be trading in a safe manner with mild stability. The August futures price of gold on Multi Commodity Exchange (MCX) has increased by 1.14 percent to Rs 1,49,236 per 10 grams. On the other hand, today in the spot (physical) bullion market also the price of gold has been recorded around Rs 1,47,310 per 10 grams. Moreover, in major metros of India like Delhi, Mumbai and Kolkata, 24 carat pure gold is trading at the level of ₹1,46,520 to ₹1,46,670 per 10 grams.

Strong rise in silver prices, prices rise in retail market

Along with gold, silver prices have also witnessed a significant rise today due to investor interest and huge industrial demand. The July futures price of silver on MCX has reached Rs 2,37,990 per 1 kg with a huge rise of 2.06 percent. However, if we talk about the retail market, then the price of silver remains firmly at an even higher level i.e. Rs 2,49,900 per 1 kg. Experts believe that due to global manufacturing trends, silver prices have always seen slightly more volatility than gold.

These are the big reasons which are deciding the price of gold and silver.

Daily gold and silver rates in India depend entirely on many important national and international factors. Import duties imposed by the government, the position of the Indian rupee against the dollar and local state taxes (such as GST) directly affect the daily rates of these precious metals. Along with this, the ongoing peace talks between America and Iran and the changes in the crude oil market are also playing a major role in this. In the coming time, the next important trend of our domestic bullion market will be decided by the economic policies made at the global level.