Gold Rate Today Update: Gold and silver prices saw a sharp decline in the bullion market on Tuesday. Gold fell by ₹3,034 per 10 grams compared to October 27th, while silver fell by ₹3,135. Gold and silver prices have been steadily declining. Their prices are directly affected by national and international market conditions. According to the Indian Bullion and Jewellers Association (IBJA), by market close on Tuesday, the price of 24-carat gold had fallen by ₹3,034 to ₹1,18,043 per 10 grams. Silver prices fell by ₹3,135 to ₹1,41,896 per kilogram. Let’s take a look at the latest prices of 24-carat, 23-carat, 22-carat, 18-carat, and 14-carat gold.
What are the latest gold rates?
According to the Indian Bullion and Jewellers Association (IBJA), 24-carat gold has reached ₹118,043 per 10 grams. 23-carat gold has reached ₹117,570 per 10 grams. 22-carat gold has reached ₹108,127 per 10 grams. Meanwhile, 18-carat gold has fallen to ₹88,532 per 10 grams. 14-carat gold has fallen to ₹69,055 per 10 grams. 999-purity silver has reached ₹141,896 per kilogram.
Gold and silver prices fell in the Delhi bullion market on Tuesday. Gold fell ₹4,100 to ₹121,800 per 10 grams. Additionally, silver fell by Rs 6,250 to reach Rs 1,45,000 per kg.
Why did gold and silver prices fall?
After trade tensions between the US and China eased, investors reduced their holdings of gold, a safe-haven asset.
What was the situation in the international market?
Gold prices also declined significantly globally. Spot gold fell by $94.36 to $3,887.03 per ounce in the international market. It had also closed below $4,000 per ounce in the previous session. Silver also declined by 2.85%.