Gold Silver Price Today: Prices fell for the second consecutive day, silver also became cheaper, is this the right opportunity to buy or wait now?

Business Desk – Gold Silver Price Today: If you are planning to buy gold, then this news is useful for you. Gold prices across the country have declined for the second consecutive day. On the morning of July 18, in the capital Delhi, 24 carat gold reached Rs 1,42,670 per 10 grams and 22 carat gold reached Rs 1,30,790 per 10 grams. Whereas in Mumbai, the price of 24 carat gold was recorded at Rs 1,42,520 and that of 22 carat gold was recorded at Rs 1,30,640 per 10 grams.

A day ago, the price of gold of 99.9 percent purity had fallen by Rs 800 to Rs 1,45,500 per 10 grams in Delhi’s bullion market. There is pressure on gold in the international market too and spot gold is trading around $ 3,992 an ounce.

After all, why is gold becoming cheaper?

Usually, during times of war or global tension, investors buy gold as a safe investment, but this time the situation is different. Crude oil prices have increased due to increasing tension between America and Iran. This has strengthened the fear of rising inflation.

If inflation increases, many central banks of the world including the US Federal Reserve can keep interest rates high for a long time. High interest rates have a direct impact on gold, because no interest is earned on gold. In such a situation, investors start turning to bonds and other interest bearing investment options for better returns. This is the reason why there is pressure on gold prices.

What is the price of gold in which city?

• In the capital Delhi, 22 carat gold is being sold at Rs 1,30,790 and 24 carat gold is being sold at Rs 1,42,670 per 10 grams. In Mumbai and Kolkata, the price of 22 carat gold is Rs 1,30,640 and the price of 24 carat gold is Rs 1,42,520.
• In Chennai, 22 carat gold is Rs 1,30,990 and 24 carat gold is Rs 1,42,900 per 10 grams. Whereas in Ahmedabad and Bhopal, 22 carat gold is trading at Rs 1,30,690 and 24 carat gold is trading at Rs 1,42,570.
• Apart from this, in Jaipur, Lucknow and Chandigarh the price of 22 carat gold is Rs 1,30,790 and 24 carat gold is Rs 1,42,670 per 10 grams. In Hyderabad, 22 carat gold was recorded at Rs 1,30,640 and 24 carat gold was recorded at Rs 1,42,520.

Silver price also softened

Along with gold, the prices of silver are also falling. On the morning of July 18, silver is trading at Rs 2,29,900 per kg. There is pressure on silver due to weak purchases by jewelers and industry in the domestic market. The effect of continuous profit booking is also visible on the prices. Spot silver is trading at $ 55.37 per ounce in the international market.

What could be the next move?

The market is now eyeing interest rates in America and global developments. If crude oil prices continue to rise and inflationary pressure continues, gold and silver prices may continue to fluctuate. In such a situation, the next few days are going to be important for investors and buyers.