Gold Prices in Indian Markets Fall Sharply After Rising For 4 Days, Silver Rates Drop
Following global trends, gold prices moved lower on Wednesday as the US dollar ticked up and investors awaited for possible guidance on tapering of the pandemic-era stimulus.
Gold and silver prices fell sharply in Indian markets today after a run-up over the past few sessions. On MCX, gold futures fell 0.55% to ₹47,360 per 10 gram after rising for four days while silver futures declined 0.7% to ₹63,051 per kg. In the previous session, gold had ended flat while silver had risen 1%. “We expect MCX gold October future to weaken during the intraday since the US dollar has appreciated after US reported improvement in sale of new homes.
Gold jewellery varies in price across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges. In the spot market, highest purity gold was sold at Rs 47,710 per 10 gram while silver was priced at Rs 63,450 per kg on Tuesday, according to the Indian Bullion and Jewellers Association. The price of the yellow metal in the spot prices rose more than Rs 1,500 in the last two weeks, whereas silver has remained flat, gaining only Rs 600, during the period.
Today’s Gold Rate in Jammu and Kashmir ( 25 Aug 2021 )
Compare 22K & 24K Gold Rate In Jammu And Kashmir (Today & Yesterday)
Today | Yesterday | Rate Change | |
Standard Gold (22 K) ( 1 gram ) | ₹ 4,604 | ₹ 4,584 | ₹ 20 ↑ |
Standard Gold (22 K) ( 8 grams ) | ₹ 36,832 | ₹ 36,672 | ₹ 160 ↑ |
Pure Gold (24 K) ( 1 gram ) | ₹ 4,834 | ₹ 4,813 | ₹ 21 ↑ |
Pure Gold (24 K) ( 8 grams ) | ₹ 38,672 | ₹ 38,504 | ₹ 168 ↑ |
NOTE: Please note that Gold price rates today for both 22-carat and 24-carat mentioned in the story are indicative and excluding of the Goods and Services Tax (GST), TCS, and other levies. Gold prices at jewellery shops may differ.
(With Inputs From Agencies)