Gold rises after US-Iran ceasefire! Know the new price of 10 grams of gold and silver from Delhi to Patna today

Crude oil prices have fallen in the international market due to the sudden stoppage of attacks between America and Iran in West Asia over the weekend. Due to cheap crude oil, the concerns about inflation at the global level have reduced a bit, whose direct positive effect is being seen on the prices of gold. However, on the other hand, silver prices remain under pressure due to sluggish industrial demand.

After one day of stability in the Indian bullion market, gold prices have registered a rise for the second consecutive day today. Talking about the last two days, in the country’s capital Delhi, 10 grams of 24 carat purity gold has become costlier by ₹ 940 and 22 carat gold has become costlier by ₹ 860. Today on Tuesday, a slight increase of ₹ 10 per 10 grams has been recorded in the price of 24 and 22 carat gold in Delhi.

Latest prices of 24K, 22K and 18K gold in 10 big cities

The rates of 10 grams of gold today in the main metros and cities of the country are as follows:

Silver became cheaper by ₹ 100 after two days of stability

Domestic prices of silver have declined on Tuesday after remaining stable for two days. Today, in the bullion market of Delhi, one kilogram of silver has become cheaper by ₹ 100 and is trading at the level of ₹ 2,39,900. Even in major metros like Mumbai, Kolkata and Chennai, silver is being sold at this rate today. Earlier on July 24, there was a huge fall of silver prices by ₹ 5,000.

Expert opinion: Why did gold rise and what will the market keep an eye on next?

Saumil Gandhi, Senior Commodity Analyst, HDFC Securities, says that due to reduction in tension in West Asia, the prices of crude oil have come down, due to which gold has strengthened. Apart from this, the weakening of the US dollar in the international market and the fall in US bond yields have also supported gold prices. However, due to the strength of the Indian rupee, the rise in gold price in the domestic market could not be very big.

According to Pranav Mer, Senior Vice President of JM Financial Services, now the eyes of the market will be focused on the upcoming situation in West Asia. Along with this, new inflation data of America, Japan and Eurozone, America’s GDP data, consumer confidence and weekly jobless claims data will also play an important role in determining the movement of gold and silver. Apart from this, the decisions taken on interest rates by the US Federal Reserve, Bank of England and Bank of Japan in the coming days will also decide the direction of the bullion market.