Today i.e. 20th October, the festival of Diwali is being celebrated with pomp. On this occasion, there is a big opportunity for those buying gold and silver, because there has been a big fall in the prices of gold and silver. Silver has become cheaper by Rs 17 thousand, while the price of gold has fallen by more than Rs 5000. These rates have changed on MCX, the effect of which is visible in the bullion market also.
On October 16, the price of silver on MCX had crossed Rs 1 lakh 70 thousand, but today its price has come down to Rs 1 lakh 53 thousand. Which means that the price of silver has decreased by Rs 17 thousand from the record high. Today alone the price of silver has fallen by about Rs 4000 per kg.
on mcx Sleep Talking about gold, on October 16, gold had crossed Rs 1 lakh 32 thousand per 10 grams, but today it is trading above Rs 1 lakh 26 thousand. Which means that gold has fallen by more than Rs 5 thousand from the record high. However, today a slight increase is being seen in its price.
Gold became cheaper by Rs 4000 today
A sudden big fall in gold rates has been seen on the Indian Bullion Market (IBJA). On October 17, the price of 24 carat gold was at Rs 130834, but today it has come down to Rs 1,26,730. That means the 24 carat gold rate has fallen by Rs 4000. Let us tell you that after October 17, the gold rates on IBJA have been updated.
Similarly, 23 carat gold has become cheaper by Rs 4000 to Rs 1,26,223. Today 22 carat gold is becoming cheaper by more than Rs 3000 and is available at Rs 1,16,085. 18 carat gold has reduced by Rs 3000 and is being sold at Rs 95048 per 10 grams.
Silver became cheaper by Rs 11 thousand in bullion market
On October 17, the price of silver on IBJA was Rs 1 lakh 71 thousand 275 per kg. But today its price has fallen by more than Rs 11 thousand and it has become Rs 1,60,100 per kg. This means that this could be a great opportunity for silver buyers.
It is worth noting that the rates updated on IBJA.Com are without GST and making charges. When you go to buy jewellery, making charges and tax will be levied on it.
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