Gold-Silver Rate: Gold and silver prices continue to fall, silver broken by more than 7,400 rupees, gold also became cheaper by 1000 rupees

Gold-Silver Rate Today 16 Feb: Gold and silver prices continue to fluctuate around the world. On Monday, February 16, there was a decline in the prices of gold and silver due to slight profit booking. Earlier, the precious metal prices had crossed historic levels of $5,000 an ounce after soft US inflation data.

The price of gold on the Multi Commodity Exchange (MCX) has fallen below ₹1.55 lakh to ₹1,54,824 per 10 grams. At the same time, the price of silver has fallen by more than ₹ 7,000 to ₹ 2,36,908 per kg. With this, on February 15, the price of silver reached ₹2,43,715 per kg, an increase of ₹7,280 (3.08%). At the same time, the price of gold reached ₹ 1,55,655 per 10 grams, which was an increase of ₹ 2,819 (1.84%).

Why did the prices of gold and silver fall?

After this sudden fall in the prices of gold and silver, investors are confused whether this fall is a part of profit booking or whether this fall will continue for a long time. During Asian trading on Monday, spot gold prices fell 0.27% to $5,033 an ounce. Spot silver price declined by 2.08% to $76.34 an ounce.

According to experts, this fall is a normal correction after the 2.4% rise in gold after the US inflation data. Gold and silver traders have started selling today to recover profits.

gold and silver prices in india

The effect of fall in the prices of gold and silver is also being seen in India. According to GoodReturns website, according to the latest data, the price of 24 carat gold in Delhi is ₹ 1,55,970 per 10 grams. At the same time, the price of silver is ₹ 2,45,190 per kg.

In Mumbai, the price of gold has reached ₹1,56,240 per 10 grams and silver has reached ₹2,45,610 per kg. An increase in gold prices is also being seen in Bengaluru and Hyderabad, where the price of gold in Hyderabad is ₹ 1,56,490 per 10 grams and in Bengaluru ₹ 1,56,360 per 10 grams. Silver rates have also reached ₹ 2,45,800 to ₹ 2,46,000 per kg in these cities.

Gold prices in Chennai are hovering around ₹1,56,690 per 10 grams and silver at ₹2,46,320 per kg, which are the highest in the country.

Also read: Stock Markets Today: Market started weak, Sensex fell by 130 points and Nifty below 25,500.

There may be a profitable opportunity for investors

Due to this fall in the prices of gold and silver, investors are wondering whether this could be a good opportunity. Experts believe that if prices fall further, it could be a good time to buy, especially for investors who want to invest in gold and silver for the long term.