Gold Silver Price: Gold and silver cheap! Silver fell by ₹4200, know the latest rates of 24K gold

Gold Silver Price: Brother, today there was a lot of buyers in the bullion market! On Multi Commodity Exchange of India, the price of gold fell to around ₹ 1,51,947 per 10 grams. At the same time, a bigger decline was seen in silver – it became cheaper by about ₹ 4,200 and is trading around ₹ 2,43,856 per kg. That means, an opportunity has arisen for those who were waiting to buy.

What is the latest rate of 24 carat gold?

If you are planning to buy 24K gold, then the current rate is around ₹ 1.51 lakh per 10 grams (as per MCX). However, this rate may vary slightly in your city because tax and making charges are also included in it.

What is the reason for the decline? understand in simple language

Now the question arises that what happened suddenly? First reason – the US dollar has become stronger. When the dollar rises, gold appears expensive and demand decreases. Second reason – Crude oil prices have crossed $100, which has increased the volatility in the market. Both these reasons together pushed down the prices of gold and silver.

Direct effect of crude oil and dollar

Look, when the Dollar Index strengthens, gold weakens in the international market. On top of this, Brent crude has also increased by 2% and crossed $103. This means demand for dollars increased in global trade, and gold and silver came under pressure.

Read Also:America’s big plan: Tighten the screws on Iran’s oil, what will be the impact?

Right time to buy or hold on now?

Experts say that this decline can be a good opportunity to buy, especially if you are thinking of long term investment. But brother, there is still uncertainty all over the world, so there will be ups and downs in the market. Therefore, it would be better to invest wisely, little by little.