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RJ Market Watch

Gold price today: Rs 46,210 per 10 gm; silver at Rs 47,410 per kg



Gold price today jumped from Rs 46,200 to Rs 46,210 to per 10 gram, while silver slipped from Rs 47,400 to Rs 47,410 per kilogram, according to Good Returns.

The gold jewellery prices vary across India — the second-largest consumer of the metal — due to excise duty, state taxes and making charges.

On MCX, August gold futures fell 2.1 per cent to Rs 45,698 per 10 gram, falling by Rs 998, media reports said.

The price of 22-carat gold in New Delhi is about Rs 45,010 per 10 gram, while in Chennai the price is at Rs 44,270. In Mumbai, it is Rs 44,620.

Meanwhile, the rates of silver per kilogram also fell. According to good returns.in, the price of silver was recorded at Rs 48,480 per kilogram across the country.

Last week, the price of silver jumped by 3.33 per cent in Mumbai’s spot Zaveri Bazaar to hit the highest in six-and-a-half years as investors booked the white precious metal as an alternative to gold.

Globally, the gold-silver ratio hit a historical high of 117 last week. Silver offers a good opportunity to earn high returns.

On Friday, gold prices dipped more than 2 per cent as investors’ hopes of a rebound in the global economy got a boost from stronger-than-expected US non-farm payrolls data, reducing demand for safe havens.

The fall in gold and silver prices is being attributed ti the surprisingly better US job numbers hinting at a pace in the global economy. After hitting a seven-year high in April, gold prices globally have corrected as more economies reopen.


Courtesy: Business Standard

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