Gold-Silver Price On April 20: Gold Rates Fall, Silver Slips; Here's What You're Paying Today

New Delhi: A day after Akshaya Tritiya, the shine of gold has faded and silver has also weakened on the first day of the week. After one day's stability, 24 carat and 22 carat gold has become cheaper by Rs 10 per ten grams in the national capital.  Silver also after one day's stability, has also become cheaper in Delhi and the price per kg has fallen by Rs 100.

On Monday, the rate for 24 carat gold stands at Rs 1,55,770 per 10 grams and the price of silver is Rs 2,74,900 per kilogram on Friday.

Gold, which had touched a peak of $5,594.82 per ounce on January 29, is currently trading near $4,861.

The COMEX gold rate was down 2 per cent to $4,780 per ounce, erasing most of last week’s 1.7 per cent advance. Meanwhile, the COMEX silver rate today plunged 2.5 per cent to $78.75 per ounce during the Asian trading hours on Monday.

The gold rate on Sunday was Rs 1,55,780 per 10 gms, while the silver rate was Rs 2,75,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

Despite the high price of gold, there was a lot of buying on Akshaya Tritiya. The day after the important occasion, gold prices are again seeing a decline. 

The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,55,920 per 10 grams and 22-carat gold at Rs 1,42,940. Silver traded at Rs 2,74,900 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,55,770 per 10 grams and 22-carat gold at Rs 1,42,790. Silver traded at Rs 2,74,900 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,55,770 per 10 grams and 22-carat gold at Rs 1,42,790. Silver traded at Rs 2,74,900 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,55,770
• Delhi - Rs 1,55,920
• Bengaluru - Rs 1,55,770
• Chennai - Rs 1,56,650
• Hyderabad - Rs 1,55,770
• Kolkata - Rs 1,55,770

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,74,900
• Delhi - Rs 2,74,900
• Bengaluru - 2,74,900
• Chennai - Rs 2,79,900
• Hyderabad - Rs 2,79,900
• Kolkata - Rs 2,74,900

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.