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

New Delhi: Amid the ongoing war between Iran-Israel-USA, gold and silver prices are experiencing constant fluctuations these days. Sometimes prices fall, and sometimes they suddenly rise. The price of precious metals are directly affected by national economic conditions as well as international market activity.

Gold and silver prices dropped up to 5 per cent on Friday, with white metal plunging by Rs 11,250 to Rs 2.30 lakh per kilogram, while yellow metal declined to Rs 1.47 lakh per 10 grams in the national capital. 

On Saturday, the rate for 24 carat gold stands at Rs 1,48,090 per 10 grams and the price of silver is Rs 2,45,000 per kilogram.

The gold rate on Friday was Rs 1,45,580 per 10 gms, while the silver rate was Rs 2,40,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

The price of precious metals in the country have been fluctuating significantly over the past few months. A week decline in gold and silver price has stopped and its rates have increased now. 

The price of 24-carat gold rose by Rs 2,510 per 10 grams and the rate of silver also increased by Rs 5,000 per kg, in early trade on Saturday.

The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,48,220 per 10 grams and 22-carat gold at Rs 1,35,900. Silver traded at Rs 2,45,000 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,48,090 per 10 grams and 22-carat gold at Rs 1,35,750. Silver traded at Rs 2,45,000 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,48,090 per 10 grams and 22-carat gold at Rs 1,35,750. Silver traded at Rs 2,45,000 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,48,090
• Delhi - Rs 1,48,220
• Bengaluru - Rs 1,48,090
• Chennai - Rs 1,49,020
• Hyderabad - Rs 1,48,090
• Kolkata - Rs 1,48,090

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,45,000
• Delhi - Rs 2,45,000
• Bengaluru - 2,45,000
• Chennai - Rs 2,50,000
• Hyderabad - Rs 2,50,000
• Kolkata - Rs 2,45,000

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.