Gold-Silver Price: Gold rates fall again, silver also softens; what is the price now?

New Delhi: Gold and silver prices are constantly changing amid the ongoing war between Iran-Israel-USA. Prices started rising again as soon as the market opened on Friday. The price of 24 carat gold on Multi Commodity Exchange (MCX) rose by 1 per cent i.e. by 10 am, with a rise of 1393 to reach Rs 1,40,886 per 10 grams. The rate for 24 carat gold stands at Rs 1,44,710 per 10 grams and the price of silver is Rs 2,40,000 per kilogram. 

Gold prices rose 0.33 per cent to $4,423 per ounce on Comex, after falling nearly 3 per cent in the previous session. Meanwhile, silver prices rose 0.29 per cent to $68.13 per ounce on Comex during Asian trading on Friday.

The gold rate on Thursday was Rs 1,44,550 per 10 gms, while the silver rate was Rs 2,50,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

Gold and silver prices in the country have been fluctuating significantly over the past few months. A week decline in gold prices has stopped and its price has increased. The price of 24-carat gold rose by Rs 160 per 10 grams and the rate of silver declined by Rs 10,000 per kg, in early trade on Friday.

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,44,860 per 10 grams and 22-carat gold at Rs 1,32,800. Silver traded at Rs 2,40,000 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,44,710 per 10 grams and 22-carat gold at Rs 1,32,650. Silver traded at Rs 2,40,000 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,44,710 per 10 grams and 22-carat gold at Rs 1,32,650. Silver traded at Rs 2,40,000 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,44,710
• Delhi - Rs 1,44,860
• Bengaluru - Rs 1,44,710
• Chennai - Rs 1,46,510
• Hyderabad - Rs 1,44,710
• Kolkata - Rs 1,44,710

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,40,000
• Delhi - Rs 2,40,000
• Bengaluru - Rs 2,40,000
• Chennai - Rs 2,45,000
• Hyderabad - Rs 2,45,000
• Kolkata - Rs 2,40,000

Why there is change in the rates?

According to analysts, the major reasons behind changes are:

• International market pricing, import fees, taxes
• Blockage of the Strait of Hormuz 
• 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.
• 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.