Gold-Silver Price: Yellow, White Metal Rates continue to fall; Check What You're Paying In Your City

New Delhi: Amid the ongoing war in the Middle East,  the prices of precious metals are continuously changing. On Tuesday, the gold and silver prices opened with downside pressure in the domestic futures market. The rate for 24 carat gold stands at Rs 1,40,350 per 10 grams and the price of silver is Rs 2,35,000 per kilogram. 

In the international markets, spot gold was down 1.6 per cent at $4,335.18 per ounce during Asian trading hours.  

The gold rate on Monday was Rs 1,43,290 per 10 gms, while the silver rate was Rs 2,30,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

As the festival occasion, Navratri, is round the corner, the price of 24-carat gold fell Rs 2,940 per 10 grams and the rate of silver rose by Rs 5,000 per kg, in early trade on Tuesday.

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,40,500 per 10 grams and 22-carat gold at Rs 1,28,800. Silver traded at Rs 2,35,000 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,40,350 per 10 grams and 22-carat gold at Rs 1,28,650. Silver traded at Rs 2,35,000 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,40,350 per 10 grams and 22-carat gold at Rs 1,28,650. Silver traded at Rs 2,35,000 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,40,350 
• Delhi - Rs 1,40,500
• Bengaluru - Rs 1,40,350
• Chennai - Rs 1,41,820
• Hyderabad - Rs 1,40,350
• Kolkata - Rs 1,40,350

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,35,000
• Delhi - Rs 2,35,000 
• Bengaluru - Rs 2,35,000
• Chennai - Rs 2,40,000
• Hyderabad - Rs 2,40,000
• Kolkata - Rs 2,35,000

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.