In Delhi on Wednesday, the price of gold rose by Rs 1,650 to an all -time high level of Rs 98,100 per 10 grams in a single day. The price of gold has increased so much due to the growing trade war between the US and China. According to the All India Bullion Association, the price of 24 carat gold closed at Rs 96,450 on Tuesday. Meanwhile, 22 carat gold also increased from Rs 96,000 to a new level of Rs 97,650.
Silver prices also increased.
Meanwhile, the price of silver also increased by Rs 1,900 to Rs 99,400 per kg, while the price of silver on Tuesday was Rs 97,500 per kg. The price of gold in the international market reached a record level of $ 3,318 an ounce. Silver also increased by about 2 percent to $ 32.86 an ounce during trading in Asian markets. Gold futures in New York reached an all -time high level of $ 3,289.07 an ounce.
Today prices of gold and silver per gram of gold and silver in metro cities
| City name | 22 carat gold price (₹) | 24 carat gold price (₹) |
| Ahmedabad | 8,821 | 9623 |
| Mumbai | 8816 | 9618 |
| Chennai | 8816 | 9618 |
| Calcutta | 8816 | 9618 |
| Delhi | 8831 | 9633 |
How is the price of gold determined?
Gold prices in India vary due to many reasons, such as international market prices, government tax and rupee fluctuations. Gold is not just an investment means. But it is also an important part of our traditions and festivals. Especially during weddings and festivals its demand increases.
How and why do gold prices change in India?
There is also a purchase and sale by central banks worldwide. Nowadays, the central bank of every country does not have complete storage capacity. Whenever this happens, gold prices fluctuate rapidly. In short, this demand comes from the country’s central banks. When the demand exceeds the expectation, gold prices are increased by the central banks. This has been seen many times and these prices increase to a great extent.
This is the reason for the increase in gold prices.
Cross currency barriers can also affect precious metals. For example, a rapid increase in the dollar may cause a decline in the price of gold. Today, gold prices in India are affected by many factors and there is no one factor that has a major impact. Overall, you can say that many factors are responsible for this.
When to buy gold and when to sell?
If you want to sell it for 30 thousand rupees, then you have to buy it for 27,000 rupees, this will make you profit of about 10 percent. Also keep in mind that many other costs are also associated with buying and selling gold, so your return should be good and profitable. This is the reason that many people do not earn good profits by buying gold due to lack of correct information.
The post of gold: Gold price beyond 98 thousand, know today’s price in your city first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
