Gold, Silver Prices: Where Did Yellow And White Metal Prices Reach After The Surge?

New Delhi: On Friday, the precious metals, gold and silver, prices continue to fluctuate. Spot gold and silver prices have increased by approximately 7 per cent. In the capital's bullion market, gold has reached Rs 1.58 lakh per 10 grams, while silver has reached Rs 2.6 lakh per kg. Meanwhile, in the commodity market (MCX), gold remains at Rs 1,54,700 per 10 grams and silver at Rs 2,41,400 per kg.

The gold rate on Thursday was Rs 1,56,640 per 10 gms, while the silver rate was Rs 2,70,000 per 1 kg, according the Bullions website.

What is the price of gold and silver? 

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,56,650 per 10 grams and 22-carat gold at Rs 1,43,610. Silver traded at Rs 2,70,100 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,56,500 per 10 grams and 22-carat gold at Rs 1,43,460. Silver traded at Rs 2,70,100 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,56,500 per 10 grams and 22-carat gold at Rs 1,43,460. Silver traded at Rs 2,70,100 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,56,500
• Delhi - Rs 1,56,650
• Bengaluru - Rs 1,56,500
• Chennai - Rs 1,58,190
• Hyderabad -  Rs 1,56,500
• Kolkata - Rs 1,56,500

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,70,100
• Delhi - Rs 2,70,100
• Bengaluru - Rs 2,70,100
• Chennai - Rs 2,70,100
• Hyderabad - Rs 2,70,100
• Kolkata - Rs 2,70,100

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.