Gold Rate Fall: Effect of slowdown in international market, gold becomes cheaper in India, check today’s new rate list

New Delhi: Today is a very special day for the country because the results of the assembly elections of four states and one union territory are coming. Amidst the political turmoil, good news has come for the buyers from the bullion market. A decline in the prices of both gold and silver has been recorded on MCX today, which has brought great relief to people planning to make jewellery.

Gold and silver became cheaper on MCX

Today on Multi Commodity Exchange (MCX), the price of gold slipped by Rs 171 and is trading at Rs 1,51,181 per 10 grams. At the same time, there has been a big fall in the prices of silver. The price of silver has fallen by Rs 1,164 to reach Rs 2,45,138 per 10 grams. There is sluggishness in the international market also today. On Comex, gold fell 0.54% to $ 4,619 an ounce and silver fell 0.61% to $ 75.935 an ounce.

Silver prices according to cities

Talking about the prices of silver, the price of silver in major cities of North India like Delhi, Mumbai, Ahmedabad, Kolkata, UP, Bihar and Chandigarh is hovering around Rs 2,64,900 per kg. However, the situation is a little different in South India. The price of silver in Chennai and Hyderabad is higher than in North India and here it is being sold at Rs 2,69,900 per kg.

What is the gold rate in your city today?

Slight differences are being seen in the prices of gold in different cities of the country.

• Delhi: 24 carat gold Rs 1,51,220 and 22 carat Rs 1,38,490 per 10 grams.
• Mumbai and Kolkata: 24 carat gold Rs 1,50,920 and 22 carat Rs 1,38,340 per 10 grams.
• Chennai: Prices are highest here, where 24 carat gold is Rs 1,52,720 and 22 carat gold is Rs 1,39,990 per 10 grams.
• Pune and Bengaluru: The price of 24 carat is Rs 1,50,920 and the price of 22 carat is Rs 1,38,340 per 10 grams.

Why are prices falling?

There are many global reasons for pressure on gold and silver prices. Rising crude oil prices may force central banks to keep interest rates higher. When interest rates are high, investors prefer to invest in alternatives like government bonds instead of gold, which reduces the demand for gold.

Recently, the US Federal Reserve has also adopted a tough stance and reduced expectations of interest rate cuts. Apart from this, investors are also keeping a close eye on the ongoing peace talks between America and Iran at the international level. The direct impact of all these geopolitical and economic reasons is visible on the Indian bullion market.