Gold-Silver Price On July 9: Is Yellow Metal Costlier Or Cheaper? Check Latest City-wise Rates

New Delhi: Amid international tension and changing strategies of investors, gold and silver prices remain volatile. On Monday, yellow and white metal prices continue to fluctuate in the domestic market. There was a slight decline in gold prices on the Multi Commodity Exchange (MCX), while silver prices remained strong. 

How much did gold fall on MCX?

Spot gold declined by $17.57, or 0.43 per cent, to close at $4,106.25 per ounce, while silver also remained under pressure, slipping nearly 1 per cent to $59.54 per ounce.

What are the latest gold rates?

The details of the prices recorded in major cities across the country on Monday morning are as follows. 

Delhi

24 carat: Rs 14,447 per gram
22 carat: Rs 13,244 per gram
18 carat: Rs 10,839 per gram

Mumbai

24 carat: Rs 14,432 per gram
22 carat: Rs 13,229 per gram
18 carat: Rs 10,824 per gram

Chennai

24 carat: Rs 14,508 per gram
22 carat: Rs 13,299 per gram
18 carat: Rs 10,824 per gram

Kolkata

24 carat: Rs 14,432 per gram
22 carat: Rs 13,229 per gram
18 carat: Rs 10,824 per gram

What about silver price?

Along with gold, silver prices are also facing huge fluctuations in the market. However, silver prices in the South are a bit expensive compared to the northern cities. The price of a kg of silver in Hyderabad, Vijayawada, Chennai and Kerala is continuing to remain at Rs 2,39,900. At the same time, the price of a kg of silver in Delhi, Mumbai, Bengaluru and other northern parts of the country is trading at Rs 2,34,400.

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.