There has been an increase in the prices of gold and silver today (13 November). According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold increased by Rs 266 to Rs 75,166. Earlier its price was Rs 74,900 per ten grams.
At the same time, the price of silver is also rising today. It increased by Rs 1,393 to Rs 89,645 per kg. Earlier, silver was at Rs 88,252. At the same time, on October 23, silver had made an all-time high of Rs 99,151 and on October 30, gold had made an all-time high of Rs 79,681.
Gold price in 4 metros and Bhopal
- Delhi : The price of 10 grams 22 carat gold is Rs 70,600 and the price of 10 grams 24 carat gold is Rs 77,000.
- Mumbai : The price of 10 grams 22 carat gold is Rs 70,450 and the price of 10 grams 24 carat gold is Rs 76,850.
- Kolkata : The price of 10 grams of 22 carat gold is Rs 70,450 and the price of 10 grams of 24 carat gold is Rs 76,850.
- Chennai : The price of 10 grams 22 carat gold is Rs 70,450 and the price of 10 grams 24 carat gold is Rs 76,850.
- Bhopal : The price of 10 grams 22 carat gold is Rs 70,500 and the price of 10 grams 24 carat gold is Rs 76,900.
Gold 4,515 in two weeks rupee became cheaper In the last 2 weeks, 24 carat gold has become cheaper by Rs 4,515 (6%) per 10 grams. On October 30, 24 carat gold was at a record level of Rs 79,681 per 10 grams, which has now come down to Rs 75,166. Whereas on October 23, silver had reached Rs 99,151, which is now at Rs 89,645 per kg.
4 main reasons behind the current fall in gold price
- After three months of rise in gold, demand has decreased due to profit booking. Due to this, there is a decline in its price.
- The dollar index has risen 2.36% since Donald Trump's victory in America. The price of American bonds has increased. Due to both these factors the demand for gold has decreased.
- Gold prices were increasing due to increasing tensions in the Middle East, Russia-Ukraine, Israel-Hamas, Israel-Iran, but no major movement is visible right now.
- After Trump's victory, the Federal Reserve cut rates by 0.25%, below expectations. This also reduced the increasing demand for gold.
Gold can go up to Rs 85 thousand by June Ajay Kedia, Director of Kedia Advisory, says that gold was supposed to fall after a big rally, it has already arrived. There is little scope for the price to fall below Rs 74 thousand per 10 grams. After America, UK has cut interest rates. This will increase purchases of gold ETFs. In such a situation, by June 30 next year, gold can reach Rs 85 thousand per 10 grams.
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Graphics Source: VaskarAssets
