look news india
Gold Silver Price: After the reduction in custom duty, the prices of gold and silver are continuously falling. According to the information given by the All India Sarafa Association, the price of silver in Delhi has fallen by Rs 4,500 per kg on Monday. This is the biggest one-day fall in silver prices in the year 2024.
In its previous trading session, silver closed at Rs 89,000 per kg. The association says that the fall in the price of silver is due to the fall in coin makers and industrial demand.
Meanwhile, gold (99.9) fell by Rs 950 to Rs 71,050 per 10 gram due to weak demand for jewellery.
Traders say that the fall in gold prices is due to the falling demand from retail buyers as well as jewelers. Union Finance Minister Nirmala Sitharaman had reduced the customs duty on gold and silver imports from 15 percent to 6 percent in the budget last week. After this, since July 23, the price of gold has fallen by about Rs 5900 and the price of silver has fallen by about Rs 11,500.
On the other hand, the prices of gold and silver are falling in the international market. In the international market, the price of gold fell by $ 19.27 or 0.80 percent to $ 2,377.09 per ounce, while silver fell by $ 0.52 or 1.85 percent to $ 27.58 per ounce.
Gold and silver prices remained stable in Ahmedabad. The price of 10 grams of gold (99.9) in Ahmedabad was Rs 72,000 and the price of silver was Rs 82,500 per kg.