Gold-Silver Price On August 11: Check Retail Rates Of 24K, 22K Yellow Metal In Delhi, Mumbai, Kolkata

New Delhi: Amid geo-political tension, the shine of gold has faded for the second consecutive day today, while the softening of industrial demand has put pressure on silver as well. Talking about gold, after one day's stability, 10 grams of 24 carat gold has become cheaper by Rs 390 and 22 carat by Rs 360 in two consecutive days. 

What are the latest prices on MCX?

Spot prices of gold increased by 0.4 per cent and reached $4,356.79 per ounce. Prices of silver, on the other hand, increased by 2.3 per cent and hit $65.03 per ounce as the markets continued to favor gold heading into the week with highly anticipated consumer price index numbers.

What is the price of gold?

In India, 24 carat gold is priced at Rs 1,53,340 per 10 grams, and 22 carat gold is priced at Rs 1,40,562 per 10 grams. 

On Monday, after experiencing a day of steady prices, the rate of 10 grams of 24 carat gold had gone up by Rs 8,350 and 22 carat gold by Rs 7,650 over the previous four consecutive days. Now talking about today, 10 grams of 24 and 22 carat gold have dipped down in prices by Rs 10 in the capital.

The prices of gold in various big cities of the country on Thursday morning are as follows:

Delhi

24 carat: Rs 15,280 per gram
22 carat: Rs 14,006 per gram
18 carat: Rs 10,947 per gram

Mumbai

24 carat: Rs 15,306 per gram
22 carat: Rs 14,030 per gram
18 carat: Rs 10,932 per gram

Chennai

24 carat: Rs 15,351 per gram
22 carat: Rs 14,006 per gram
18 carat: Rs 11,176 per gram

Kolkata

24 carat: Rs 15,286 per gram
22 carat: Rs 14,012 per gram
18 carat: Rs 10,932 per gram

What about the price of silver?

Speaking about silver, the price has gone down today following three days of staying the same. On Tuesday, one kilogram of silver in Delhi is being sold for Rs 2,44,900 which is down by Rs 100. However, in Chennai the price of one kilogram of silver is Rs 2,49,900. This means that among the four cities Chennai is selling the most expensive silver.

What did the experts say?

According to experts, gold and silver prices may rise in the short term. They believe that 10 grams of gold could cost Rs 1.57 lakh and 1 kg of silver could cost Rs 2.80 lakh. The recent rise in gold prices was supported by weak US labor market data, a weak dollar, and expectations of a more accommodative Federal Reserve policy. This week, US inflation data, changes in Fed rate expectations, the dollar, oil prices, and events in West Asia will be key for investors.