Gold-Silver Price On April 23: Precious metals witness major fall; What Is The Rate Today?

New Delhi: Tensions between Iran and the US continue in the Middle East. After, US President Donald Trump announced an extension of the ceasefire along with the blockade. The price of gold has fallen further in the country. On Thursday, the rate for 24 carat gold stands at Rs 1,54,740 per 10 grams and the price of silver is Rs 2,64,900 per kilogram.

Spot gold declined 0.7 per cent to $4,705.09 per ounce as of 0215 GMT.Spot silver climbed 1.5 per cent to $77.84 per ounce, platinum rose 1.4 per cent to $2,064.95.

The gold rate on Wednesday was Rs 1,54,750 per 10 gms, while the silver rate was Rs 2,65,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

After accusations and counter-accusations between the two countries, the price of gold has started falling again. On Thursday, the price of gold saw a decline in the international market. Gold fell by $6.54 per ounce to $4,732. Silver prices are also seeing a decline.

The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,54,890 per 10 grams and 22-carat gold at Rs 1,41,990. Silver traded at Rs 2,64,900 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,54,740 per 10 grams and 22-carat gold at Rs 1,41,840. Silver traded at Rs 2,64,900 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,54,740 per 10 grams and 22-carat gold at Rs 1,41,840. Silver traded at Rs 2,64,900 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,54,740
• Delhi - Rs 1,54,890
• Bengaluru - Rs 1,54,740
• Chennai - Rs 1,55,450
• Hyderabad - Rs 1,54,740
• Kolkata - Rs 1,54,740

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,64,900
• Delhi - Rs 2,64,900
• Bengaluru - 2,64,900
• Chennai - Rs 2,74,900
• Hyderabad - Rs 2,74,900
• Kolkata - Rs 2,64,900

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.