Gold-Silver Prices: Is Gold And Silver Cheap Or Expensive? Here's What You're Paying Today Across Cities

New Delhi: Amid the crisis in the Middle East due to the ongoing war between the US, Israel, and Iran, currently gold prices in the Indian market remain stable at around Rs 1.63 lakh per 10 grams on Monday and silver is trading at Rs 2.68 lakh per kg. In the international markets, spot gold is at $5,095.81 per ounce.

The gold rate on Sunday was Rs 1,63,640 per 10 gms, while the silver rate was Rs 2,85,000 per 1 kg, according the Bullions website.

What is the price of gold and silver? 

Gold and silver prices on MCX surged marginally on Friday. However, despite this rebound, the gold and silver are still trading significantly lower than their peak levels.

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,63,790 per 10 grams and 22-carat gold at Rs 1,50,140. Silver traded at Rs 2,84,900 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,63,630 per 10 grams and 22-carat gold at Rs 1,49,990. Silver traded at Rs 2,84,900 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,63,630 per 10 grams and 22-carat gold at Rs 1,49,990. Silver traded at Rs 2,84,900 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,63,630
• Delhi - Rs 1,63,790
• Bengaluru - Rs 1,63,630
• Chennai - Rs 1,64,170
• Hyderabad - Rs 1,63,630
• Kolkata - Rs 1,63,630

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,84,900
• Delhi - Rs 2,84,900 
• Bengaluru - Rs 2,84,900
• Chennai - Rs 2,89,900 
• Hyderabad - Rs 2,89,900
• Kolkata - Rs 2,84,900 

Why there is change in rates?

According to analysts, the major reasons behind changes are:

• 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.
• Speeding up the process of withdrawing profits by investors.
• 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.