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News Topical, Digital Desk : Gold Price Today: Amid heavy tensions in West Asia, the news of ceasefire between Iran and Israel has led to a big fall in the price of gold and silver on Tuesday. In the financial capital Mumbai, 22 carat gold is being sold at the rate of Rs 91,550 per 10 grams, while 24 carat gold is trading at Rs 99,870. Similarly, the price of silver has also fallen compared to Monday and is trading at Rs 1,00,900 per kg.
Gold futures on MCX are trading at Rs 98,168, down 1.23 per cent after hitting Rs 1,00,000 earlier this month. Whereas, silver futures on MCX are trading at Rs 1,05,962 per kg, down 0.75 per cent.
Latest gold and silver prices of your city-
In the national capital Delhi, 22 carat gold is being sold at Rs 92,440 per 10 grams while 24 carat gold is being sold at Rs 1,00,830. Similarly, in Ahmedabad, 22 carat gold is being sold at Rs 91,600 while 24 carat gold is being sold at Rs 99,920. In Patna too, 22 carat and 24 carat gold is being sold at the same rate as Ahmedabad. Whereas, the price of 22 carat gold in Hyderabad, Chennai, Bengaluru and Kolkata is Rs 91,550. Whereas 24 carat gold is being sold at Rs 99,970 in these cities.
It is worth noting that this decline has been seen on the very first day after the ceasefire between Iran and Israel. However, market experts believe that some more growth can be seen in it next month.
Which factors determine the prices?
Actually, the prices of gold and silver are determined by many factors, including exchange rate, fluctuations in dollar prices and turmoil in the global market. Apart from this, customs duty also affects it and its prices are decided on a daily basis.
Gold has a lot of importance in Indian society, both economically and culturally. Gold is considered auspicious in any wedding or festival. Apart from this, it is also the best option for investment. No matter how much inflation there is, gold has proved itself to be the one that gives the highest returns.
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