Today’s Gold and Silver Rate: There has been an increase in the prices of gold and silver. Silver rose by Rs 1560 to Rs 2.44 lakh per kg. The price of gold increased to Rs 1.55 lakh per 10 grams.
There are huge fluctuations in the prices of gold and silver these days amid global cues and geopolitical tensions, due to which investors as well as people buying jewelery for weddings are in a dilemma. In the spot market, the prices of both have increased by about 7% in recent days.
Gold and silver price on MCX
In the bullion market of the capital, gold has reached the level of Rs 1.58 lakh per 10 grams, while silver is trading at Rs 2.6 lakh per kg. On the other hand, in the Commodity Exchange (MCX), gold remains around Rs 1,54,700 per 10 grams and silver around Rs 2,41,400 per kg. According to experts, silver is registering much sharper fluctuations than gold. Silver prices on MCX once reached a historic high of Rs 4,20,000 per kg, but after that it fell drastically and currently it is trading around Rs 2.41 lakh. Industry demand, changes in the global market and investor sentiment are being considered as the main reasons for this instability. However, analysts believe that long-term investors may view this decline as a buying opportunity.
Gold and silver prices showed strength in the international market
Strength in gold and silver was also seen in the international market. In Comex trade, gold recovered from $ 4,996 an ounce after an initial fall to $ 5,018.20 an ounce, which shows a gain of about 0.43% in 24 hours. At the same time, spot silver rose by 0.67% to reach $ 78.15 an ounce. According to market analysts, due to lack of concrete progress in US-Iran talks, safe-haven buying has increased, which supported the precious metals. In addition, Augmont Bullion’s report published on February 19 said that due to low liquidity in Asian markets during the Lunar New Year holiday, the gold market remained in a consolidation phase and the price movement was more influenced by technical factors.
