Gold Silver Price Today: Gold and silver broke for the second consecutive day, know the price of 24 carat gold in your city?

Business Desk – Gold Silver Price Today: The decline in gold and silver prices continued on Thursday, July 9. Pressure was seen in precious metals from domestic futures market (MCX) to international market (COMEX). After the big fall on Wednesday, gold and silver remained weak amid fluctuations in early trading on Thursday morning.

On MCX, the price of silver fell to Rs 2,21,707 per kg, while the price of 24 carat gold also appeared to be trading soft. The effect of increasing tension between America and Iran, rise in crude oil and instability in global markets is clearly visible on the bullion market.

Why are gold and silver prices falling amid Middle East tension?

Generally, during times of war or geopolitical tension, investors turn to safe havens like gold and silver. But this time the picture is a little different. Crude oil prices have increased with the increasing military tension between America and Iran.

This has strengthened the fear of rising inflation in America. If inflation increases, interest rates may remain high, which will put pressure on gold and silver prices. For this reason, there is huge volatility in the global commodity market.

Latest price of gold and silver on COMEX

On July 9, at around 7:50 am, the price of gold on the international market COMEX was trading at $ 4,088 per ounce with an increase of about 0.14%. At the same time, the price of silver increased by 0.38% to $ 58.760 per ounce, but after this both the metals again showed a declining trend.

24 carat gold and silver price on MCX

The price of 24 carat gold was recorded at Rs 1 lakh 43 thousand 298 per 10 grams on Multi Commodity Exchange (MCX) at around 9:10 am on Thursday. Whereas the price of silver fell to Rs 2 lakh 21 thousand 707 per kg. Earlier on Wednesday, gold on MCX closed at Rs 1 lakh 43 thousand 650 per 10 grams with a fall of 1.20% and silver closed at Rs 2 lakh 30 thousand 79 per kg with a fall of 0.16%.

Latest gold rate according to IBJA

24 carat (999) gold – Rs 14,235 per gram
22 carat gold – Rs 13,893 per gram
20 carat gold – Rs 12,669 per gram
18 carat gold – Rs 11,530 per gram
14 carat gold – Rs 9,182 per gram
Silver price in major cities of the country

A slight difference was also seen in the prices of silver in major cities of the country. In Delhi, silver was Rs 2 lakh 45 thousand 100 per kg. In Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad, the price of silver was recorded at Rs 2 lakh 44 thousand 900 per kg. Whereas in Vadodara, silver was Rs 2 lakh 45 thousand 100 per kg.

24 carat gold price in your city

The price of 24 carat gold was Rs 14,327 per gram in Delhi, Rs 14,312 in Mumbai, Rs 14,454 in Chennai, Rs 14,312 in Kolkata, Rs 14,312 in Bengaluru and Rs 14,317 per gram in Ahmedabad.

The price of 22 carat gold was recorded at Rs 13,134 in Delhi, Rs 13,119 in Mumbai, Rs 13,249 in Chennai, Rs 13,119 in Kolkata and Bengaluru, while Rs 13,124 per gram in Ahmedabad.

The price of 18 carat gold was Rs 10,749 per gram in Delhi, Rs 10,734 in Mumbai, Rs 11,069 in Chennai, Rs 10,734 in Kolkata and Bengaluru, while Rs 10,739 per gram in Ahmedabad.

What could be the trend ahead?

Experts believe that US-Iran tension, movement of crude oil, US inflation data and signals regarding interest rates will decide the direction of gold and silver in the next few days. At present, due to global uncertainty, there is a possibility of sharp fluctuations in the bullion market. In such a situation, investors are being advised to keep a constant eye on the prices.