Gold-Silver Price Today: Break in the fall of gold, rise just before the wedding season, know today’s price?

Business Desk – Gold-Silver Price Today: The bullion market was facing recession for the last several days, suddenly a lot of movement is being seen. Amidst the continuously falling prices, the prices of gold and silver have once again increased sharply.

Due to the strength in global markets and increase in domestic demand, there has been a tremendous rise in the prices of gold. After the sudden rise on Friday, the bullish trend in the market continues today on Saturday, which has created a stir among both investors and buyers.

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After this rise in the domestic market, the price of 99.9% pure gold has reached Rs 162,900 per 10 grams, which is a big increase of Rs 1,600. At the same time, silver is also trading strongly at Rs 280,100 per kg.

Talking about the international market, the atmosphere there is also quite encouraging. Gold has increased by +0.83% to $4,569.90 per ounce, while silver has declined marginally by 0.43%. It is currently trading at $75.585.

Know what is the price of gold in which city?

Today, on July 30, a slight difference was seen in the price of gold between different cities. In the national capital Delhi, the price of 22 carat gold was recorded at Rs 1 lakh 44 thousand 660 per 10 grams and the price of 24 carat gold was recorded at Rs 1 lakh 57 thousand 800 per 10 grams. Gold prices in Jaipur, Lucknow and Chandigarh also remained equal to Delhi.

In the country’s financial capital Mumbai, 22 carat gold was seen trading at Rs 1 lakh 44 thousand 510 and 24 carat gold at Rs 1 lakh 57 thousand 650 per 10 grams. Similarly, gold prices in Kolkata and Hyderabad also remained similar to Mumbai. In Ahmedabad and Bhopal, the price of 22 carat gold was recorded at Rs 1 lakh 44 thousand 560 and the price of 24 carat gold was recorded at Rs 1 lakh 57 thousand 700 per 10 grams.

Gold was the most expensive in Chennai, the major city of South India. Here the price of 22 carat gold was Rs 1 lakh 46 thousand 10 and the price of 24 carat gold was Rs 1 lakh 59 thousand 290 per 10 grams, which is higher as compared to other big cities. According to experts, due to the price of gold in the international market, dollar index and local tax structure, there is a slight difference in the prices in different cities.

Why did gold rise after the fall?

Many important reasons are believed to be behind this sudden rise. The first reason is the strengthening of prices in foreign markets. The second reason is the expectation of huge demand for gold in the domestic market, which is due to the upcoming wedding season. Due to these reasons, the local bullion market has received a lot of support. Apart from this, the prospects of an early agreement between the US and Iran have also had a positive impact on investor confidence.

News of US-Iran ceasefire and its impact on the market

An important reason for this big change in the market is the news related to the 60-day ceasefire between America and Iran. There is speculation that Iran may be ready to reopen the Strait of Hormuz without any conditions.

However, no official announcement has been made by any party yet. Such news has been coming out before also. Experts believe that if this geopolitical tension ends completely, then the pressure on gold and silver prices will be removed and the market will heave a sigh of relief.