Gold Price Today: The shine of gold has faded, there has been a big fall in silver, know the latest prices.

New Delhi: Once again a big movement has been seen in the prices of gold and silver. The increasing uncertainty in the international market, America’s economic policies and the ongoing tension in West Asia are directly impacting the precious metals market. Due to increased caution among investors, there has been a decline in the prices of both gold and silver. In such a situation, from investors to people buying jewelery, everyone’s eyes are on the market trend.

Weakness was seen in gold prices on Tuesday. Market experts believe that the fear of the US Federal Reserve adopting a tough stance on interest rates in the future has affected investor sentiment. Due to this, the demand for both gold and silver in the international market was affected. There was a decline in the futures price of gold for August delivery on the Multi Commodity Exchange (MCX). The trading started at a lower level than the previous closing price and further weakness was seen in the prices during the day.

Silver falls more than gold

While there was a decline in gold prices, more pressure was seen in the silver market. A significant decline was recorded in the prices of July futures silver during early trading. Experts say that industrial demand and global economic conditions affect silver prices. In such a situation, when uncertainty increases in the market, more fluctuations are seen in silver.

Latest gold prices in major cities

Slight differences were seen in the prices of gold in different cities of the country. In New Delhi, the price of 24 carat gold was recorded at around Rs 14,474 per gram, of 22 carat at around Rs 13,269 and of 18 carat at around Rs 10,859 per gram. In Mumbai, 24 carat gold stood at around Rs 14,459 per gram, while 22 carat and 18 carat gold prices stood at Rs 13,254 and Rs 10,844 per gram respectively. At the same time, gold prices in Chennai were slightly higher than other cities. Prices remained almost at the same level in many other metros including Kolkata.

For what reasons do gold prices change?

Gold prices in India are not determined only by the domestic market, but many international and local factors affect them. The price of gold in the international market, the position of the US dollar, changes in interest rates and global economic conditions play an important role in determining its price. Apart from this, festivals, wedding season and demand for jewelery also affect the price of gold in India. This is the reason why gold prices keep changing from time to time and there is a slight difference in them in different cities.

Keep an eye on silver prices also

Along with gold, silver is also among the favorite metals of investors. At present the price of silver in the country remains around Rs 244.90 per gram and Rs 2,44,900 per kilogram. Although the price of silver is lower than gold, its demand remains constant in both investment and jewelery sectors. Apart from this, due to its use in electronics, solar equipment and other industrial sectors, its prices are also affected by global demand and supply.