Gold-Silver Price On July 28: Did Yellow Metal Rates Rise? Check What You're Paying Today

New Delhi: Gold and silver prices have once again seen a significant increase. The pressure on precious metals has increased amid the ongoing tensions in the Middle East, strong US economic data, and a firm stance on interest rates. Its impact is clearly visible from the international market to the Indian domestic market. 

How much did the price of gold fall?

The international spot gold declined 0.74 per cent to $4,047 per ounce, and silver dropped 1.93 per cent to $57.58 per ounce during the morning trade on Comex.

What is the reason for price fluctuations?

According to experts, US-Iran tension and the changing environment of the global market are directly affecting gold and silver. When geopolitical tension increases, investors buy gold considering it as a safe haven. Prices go up. But when the tension subsides a little, people start booking profits. For this reason there is pressure on prices. The strength of the dollar also makes gold expensive.

What is the rate of gold?

According to the current market trend, gold prices are trading in the same way in major cities of the country like Delhi, Hyderabad, Mumbai and Bangalore. On Tuesday, 24-carat gold is being sold at around Rs 1,45,070 per 10 gram in Delhi. The price of 24 carat in Mumbai and Kolkata is around Rs 1,44,920 per gram. Gold is a bit expensive in Chennai, the rate there is Rs 145,080 per 10 gram.

What is the latest rate of silver?

In most cities, silver is being sold around Rs 2,39,900 per kg. In cities like Chennai, Hyderabad and Kerala, silver is trading at Rs 2,49,900 per kg. Being a metal with industrial use, silver has high volatility.

Should people buy now?

Experts believe that due to global tension and inflation, gold remains a safe haven. There is a bullish trend in the long term, but there may be some fluctuations in the short term. Before buying, please check the local bullion rate, making charges and taxes are different in every city.