Gold Silver Price Today: Gold and Silver Crash by Rs 3,500 Ahead of Diwali

New Delhi: There is relief news for people preparing to buy gold and silver during the festive season. The prices of precious metals continue to fall in the domestic and international markets. Gold has become cheaper by about 25 percent from its all-time high. At the same time, weakness is also being seen in the prices of silver. Increasing tension in the Middle East, inflation concerns in America and rising crude oil prices are impacting the precious metals market.

On Friday, October 30, a decline was recorded in the prices of gold and silver from the international market to the Indian futures market. In such a situation, investors and jewelery buyers are keeping an eye on the next trend of the market.

How much did the prices of gold and silver fall in the international market?

In the global market, weakness was seen in the prices of both gold and silver on COMEX on Friday. Gold was seen trading at 4,004 dollars an ounce, falling by about 0.68 percent. At the same time, a decline of about 2.07 percent was recorded in the prices of silver and it reached 51.295 dollars an ounce.

The effect of this ongoing decline in the international market is also visible on the Indian market.

How much did gold and silver reach in the domestic market?

A fall in the prices of precious metals was also seen in the Indian market on Friday. Gold was seen trading around Rs 1.41 lakh per 10 grams. Whereas the price of silver decreased to around Rs 1.87 lakh per kg.

The continuously falling prices during the festive season have attracted the attention of those who are planning to buy gold and silver for marriage or investment.

What is the price of gold and silver today on MCX?

A fall of about Rs 800 was recorded in the price of gold for December delivery on Multi Commodity Exchange (MCX). After this, gold was seen trading at Rs 141,852 per 10 grams.

At the same time, the price of silver weakened by about Rs 2,500 and its price reached Rs 187,029 per kg. Due to continuous fluctuations in the market, investors are currently adopting a cautious approach.

What are the latest rates of 22, 24 and 18 carat gold?

According to the data available in the market, 24 carat gold is trading at around Rs 1,42,210 per 10 grams. Whereas the price of 22 carat gold is around Rs 130,359 and the price of 18-carat gold is around Rs 106,508 per 10 grams. The price of silver is said to be around Rs 187,530 per kg.

Note that the final price of jewellery may vary due to taxes, making charges and other charges in different cities.

How much cheaper has gold become from all-time highs?

On January 29 this year, gold had touched a record level of around Rs 193,000 per 10 grams on MCX. However, with the current price being around Rs 142,000, gold has fallen by about Rs 50 thousand from its record level.

In this way, there has been a decline of about 25 percent in the price of gold compared to the all-time high. If gold again reaches its old record level, then from the current price it will need a big rise. However, which direction the prices will go further will depend on the international market, movement of the dollar and global economic conditions.