Gold And Silver Prices Fall Up To 2%: Here's What You're Paying Today Across Cities

New Delhi: On Monday, the precious metals Gold and silver prices fell. Spot gold prices were down nearly 0.27 per cent at $5,033 per ounce, while spot silver prices fell over 2.08 per cent to $76.34 per ounce, during the Asian trading hours.

The gold rate on Sunday was Rs 1,56,520 per 10 gms, while the silver rate was Rs 2,46,060 per 1 kg, according the Bullions website.

What is the price of gold and silver? 

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,55,970 per 10 grams and 22-carat gold at Rs 1,44,740. Silver traded at Rs 2,45,190 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,56,240 per 10 grams and 22-carat gold at Rs 1,44,590. Silver traded at Rs 2,45,610 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,56,030 per 10 grams and 22-carat gold at Rs 1,44,590. Silver traded at Rs 2,45,280 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,56,240
• Delhi - Rs 1,55,970
• Bengaluru - Rs 1,56,360
• Chennai - Rs 1,56,690
• Hyderabad -  Rs 1,56,490
• Kolkata - Rs 1,56,030

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,45,610
• Delhi - Rs 2,45,190
• Bengaluru - Rs 2,45,800
• Chennai - Rs 2,46,320
• Hyderabad - Rs 2,46,000
• Kolkata - Rs 2,45,280

Why there is change in rates?

According to analysts, the major reasons behind changes are:

• Weakness in the prices of gold and silver in the international market.
• The strengthening of the US dollar, which put pressure on demand for precious metals.
• Speeding up the process of withdrawing profits by investors.
• When the dollar strengthens, spending by foreign buyers increases and this reduces demand for safe investments like gold and silver.

How much lower are the prices from their record highs?

Gold and silver touched their record highs on January 29. According to MCX, the record high level for gold is Rs 1.93 lakh, while the record high price for silver is Rs 4.20 lakh.