Gold-Silver Price On June 26: Is Yellow Metal Costlier? Know What Is The Price Today

New Delhi: Gold and silver prices continue to fluctuate amid international tension and changing strategies of investors. On Friday, a decline was seen in both precious metals in the domestic market. Both gold and silver remained under pressure on MCX, due to which both buyers and investors are keeping an eye on the market movements.

How much did gold fall on MCX?

On the Multi Commodity Exchange (MCX), gold futures (August) opened at Rs 1,40,672 per 10 grams, down Rs 598 or 0.42 per cent from the previous close of Rs 1,41,270.

Why is gold expensive?

Experts say that due to economic uncertainty around the world, fluctuations in the dollar and increasing demand for 'safe investment', the purchase of gold is continuously increasing. The strength in the international market is also having a direct impact on the Indian bullion market

Did the price decline?

There's some good news for those buying gold and silver. Prices of precious metals, which had been at record highs for the past few days, are now easing. Fluctuations in the international market and profit-booking by investors have also led to a decline in the prices of both gold and silver in the domestic market. Latestnews headlines

What are the latest gold rates?

The details of the prices recorded in major cities across the country on Thursday morning are as follows. According to the current market trend, gold prices are trading in the same way in major cities like Delhi, Hyderabad, Mumbai and Bangalore. In these cities, the price of 10 grams of 22 carat gold used for making jewellery continues to be at Rs 1,34,310. Similarly, the price of 10 grams of 24 carat gold is trading at Rs 1,41,989. 

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 2,55,000. 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 2,13,075.

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.