look news india
For some time now, the prices of gold and silver have been skyrocketing. The continuous increase in the price of gold has also set a new record. But gold prices in India have seen a decline for the second consecutive day. Gold has become cheaper by more than Rs 2200 in two days. China is behind the fall in gold prices. Due to a decision by China, gold prices have started falling from New Delhi to New York. It is known that China has put a brake on buying gold after 18 months. Due to this decision of China, gold prices have started falling in India.
Gold and silver have become the favorite of investors in the last few months, gold prices have increased in India. Central banks around the world are constantly buying gold. China is at the forefront of all this. China is constantly increasing its gold reserves due to which gold prices have reached the seventh sky all over the world including India. But suddenly China took such a decision that everyone was surprised. China has put a brake on buying gold.
Gold prices have risen due to rising jobs in the US, expectations of interest rate cuts by the Federal Reserve and China curbing gold purchases, while the price of gold fell in the international market. Benchmark gold futures fell 2.43 percent to $ 2,332.85 an ounce. At the same time, gold fell more than 2 percent to Rs 73,131 per 10 grams on the MCX exchange.
increase in gold reserves
This means that China was buying gold indiscriminately for the last 18 months. Due to this move of China, the spot rate of Chagold reached a record high. The increase in the purchase of gold, which is considered a safe investment option, was bound to lead to a sharp rise in prices. Gold prices have increased by about 15 percent so far this year. Not only China, but in the last few days, banks around the world have started increasing their gold reserves. The Reserve Bank of India also increased the gold reserves. The effect of which was seen on the price of gold and gold crossed Rs 75 thousand in India. Now China has stopped buying gold. In May, China put a brake on its 18-month purchase and since then gold prices have fallen by Rs 4,000.
The price ranges from 24 carat to 18 carat
According to IBJA, on June 10, the price of gold from 24 carat to 14 carat was seen as follows.
1. The price of 24 carat pure gold fell from Rs 71913 to Rs 71176 per 10 grams.
2. The price of 10 grams of gold of 23 carat purity fell from Rs 71625 to Rs 70891 per 10 grams.
3. The price of 22 carat purity gold fell from Rs 65872 to Rs 65197 per 10 grams.
4. Price of 18 carat gold fell from Rs 53935 to Rs 53382 per 10 gram.
5. The price of 14 carat gold fell from Rs 42069 to Rs 41638 per 10 grams.
6. Silver prices fell from Rs 90,535 to Rs 88,928 per kg.
