The gold price fell today to Rs. 70,500. Thus the gold price range is going between Rs. 70,500 to Rs. 71,800. The US Fed meeting is the main reason behind this fall. The gold spot price is between $2,280 to $2,330 per ounce range. The market sees a downfall in gold prices. While many people are considering it as an opportunity for the gold investment. Why are the gold rates falling? Let us study in detail below.
The Gold Price Remains Between Rs. 70,500 To Rs. 71,800 Today
The gold price is falling today. Experts mention that the spot gold price today is between $2,280 to $2,330 per ounce. What is the reason behind this fall? The main reason behind this fall is the US Fed meeting today. It is a type of meeting that is for the review of the economic and financial conditions. The Gold price is Rs. 71,251 per 10 gms. The lowest price today is Rs. 71,072 per 10 gms. Not only Gold, but Silver is also going down. The MCX (multi-commodity exchange) records a dip in prices.
These foreign factors influence the gold price for sure. However, factors like the US dollar and rupee rate also affect the market. Every city has some variation in the price rate. New Delhi has a price rate of Rs. 6,600 per 1gm for 22 carats. Mumbai has a gold rate of Rs. 6,585 per 1 gms for 22 carats. Kolkata has Rs. 6,585 per 1 gms for 22 carats, and Chennai has Rs. 6,645 per 1 gms for 22 carats. While the silver price is Rs. 90,500 per kg in New Delhi, Mumbai, and Kolkata. It is Rs. 95,000 per kg in Chennai.
Gold Rates for 1 Gms according to the city:
New Delhi: Rs. 6,600
Mumbai: Rs. 6,585
Kolkata: Rs. 6,585
Chennai: Rs. 6,645
Silver rates per 1 kg according to different cities:
New Delhi: Rs. 90,500
Mumbai: 90,500
Kolkata: Rs. 90,500
Chennai: Rs. 95,000
Gold and Silver prices will be increasing over the period. These falls are a great opportunity to invest in these commodities. There are different methods to invest in gold, silver, and other jewellery. Some invest in digital old while others prefer to buy offline gold. Any method you choose, just make sure to not lose this great opportunity to invest in these precious metals. Gold and Silver are a type of commodity that the pope prefers to invest for a long time. One can use them in the time of difficulty. Gold and Silver prices are expected to gain the previous value after some time. Thus, many households are preferring to buy them.