There has been a sudden decline in the prices of gold and silver this evening. The prices of silver and gold have decreased further in the evening as compared to Friday morning. Gold and silver are falling in the global as well as Asian markets.
According to the Indian Bullion and Jewelery Association (IBJA), 24 carat at 5 pm on October 24 gold price Compared to yesterday evening, it has decreased by about Rs 2000 to Rs 1,21,518 per 10 grams. The price of 23 carat gold has decreased by Rs 1800 to Rs 1,22,860 per 10 grams.
Similarly, 22 carat gold has decreased by about Rs 1700 to Rs 1,11,310 per 10 grams. The price of 18 carat gold this evening is Rs 91139 per 10 grams and the price of 14 carat gold is Rs 71088. Compared to the morning, this fall is about Rs 1000.
Silver became cheaper by Rs 4000
If we talk about silver price of silver Today it has become cheaper by Rs 4400 per kg. Yesterday evening, the rate of silver in the bullion market was Rs 1,51,450 per kg. But today its price has come down to Rs 1,47,033.
Gold and silver prices also fall on MCX
A decline in the prices of both precious metals has also been seen on MCX. Today, silver for December 5 futures has fallen by Rs 2834 to Rs 145678 per kg. At the same time, the price of gold has come down by Rs 2171 to Rs 121933 per 10 grams.
How much did gold and silver become cheaper than the record high?
According to MCX, gold has fallen by more than Rs 10,000 from its record high, while the price of silver has fallen by Rs 25,000. This fall has come after touching a record high level on October 17.
Why is the price falling so much?
- Gold and silver prices are falling due to a wave of profit-booking after several months of record profits.
- Demand for safe investments has decreased due to the easing of US-China trade tensions.
- Strong dollar and stable US yields have also reduced the price of gold.
- After Dhanteras and Diwali, the demand for the festive season at domestic level has decreased.
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