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At this time, a very big and relief news is coming out from the corridors of Indian bullion market and festive season which will bring smile on the faces of customers and investors. Today, the holy festival of Dhanteras is being celebrated with great pomp and devotion throughout the country. According to Sanatan culture and tradition, buying gold, silver or any other precious metal on the day of Dhanteras is considered very auspicious and auspicious. In such a situation, today’s huge fall in the prices of gold and silver has acted as an icing on the cake for the buyers. From international markets to domestic and Multi Commodity Exchange (MCX), prices of precious metals have come down everywhere, making it extremely affordable for customers to buy this festive season. Let us know in detail at what price gold and silver are being sold in the bullion market today and how much total decline has been recorded in the prices.
Gold and silver prices surged in the international market (Comex)
Due to global economic equations and demand-supply balance, the prices of precious metals continue to fluctuate. Today once again a sharp decline has been seen in the prices of gold and silver on the international market i.e. Comex. After a slight rise in prices in the last session, the prices crashed as soon as the market opened today.
A huge fall of about 1.31 percent has been recorded in the prices of gold on Comex, due to which the yellow metal was seen slipping and trading at the level of $ 4,059.90 an ounce. Similarly, due to industrial demand and global selling pressure, the price of silver (Silver Price on Comex) also fell by 1.41 percent and was seen trading around $ 51.64 an ounce. The direct and positive impact of this softening in global markets is clearly visible on India’s domestic bullion markets as well.
Buyers had fun in the domestic market, know the latest prices of 24 carat, 22 carat and 18 carat gold.
Just two days before Diwali and on this auspicious occasion of Dhanteras, there is a big relief to the customers in the Indian domestic market. After the fall in prices, today gold and silver are available at very attractive prices in the bullion market of the country. Today, in the domestic market, pure gold price fell and was seen trading around Rs 1.42 lakh per 10 grams, while the shine of silver also faded a bit and it fell and was seen trading at around Rs 1.84 lakh per kg.
If we talk about the prices of gold according to different carats, then their position in the market is as follows:
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24 karat pure gold: In today’s trading, 24 carat gold is trading around Rs 1,42,710 per 10 grams.
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22 carat gold (jewelry gold): 22 carat gold, which is most commonly used in jewelery making, is priced around Rs 130,818 per 10 grams.
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18 karat gold: 18 carat gold, popular for lightweight and modern designer jewellery, was seen trading around Rs 107,033 per 10 grams today.
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Silver (Bullion Market): The spot price of silver in the Indian bullion market was recorded trading around Rs 184,430 per kg.
There was a huge fall on MCX too, take a look at the futures market data.
Along with the spot market, there was a weak trend in the futures trading of precious metals on Multi Commodity Exchange (MCX). A huge fall of about Rs 1,900 was recorded in gold for December delivery on MCX, after which this shining metal was seen trading at the level of Rs 1,42,150 per 10 grams.
On the other hand, even more sluggishness was seen in the futures prices of silver. There was a huge fall of about Rs 2,900 in the price of silver on MCX in a single day, due to which its price slipped to Rs 1,84,210 per kg. This fall in the futures market has provided a golden and economical opportunity to investors and buyers to make purchases during the festive season.
This is the best opportunity to shop on Dhanteras, experts are also giving advice
On the day of Dhanteras, every family wishes to bring some gold or silver item, coin or utensil to their home as a blessing from Goddess Lakshmi and Lord Kuber. At a time when market prices have come down from record highs, this is proving to be a very favorable time for customers both in terms of investment and tradition.
Experts believe that despite the increase in demand during the festive season, the correction (fall) in prices due to international cues is very beneficial for the general public. If you too are planning to buy gold jewellery, silver coins or other valuable items today during the auspicious time of Dhanteras, then make the purchase only after seeing the hallmark from your nearest reliable bullion dealer. On this auspicious day, the reduced prices of precious metals have brought a double gift of financial prosperity as well as budget savings to your family.