For the last few days, there was a softening in the price of gold, but on 1 July there was no major change in the price of gold.
Gold prices are stable today (Source: Internet)
New Delhi: Despite the turmoil in the global market, the price of gold and silver in the Indian market remains stable. For the last few days, there was a softening in the price of gold, but today on 1 July, there was no major change in the price of gold, reports Dynamite News correspondent.
Today 24 carat gold is selling at Rs 97,500 per 10 grams in the bullion market, while 22 carat gold is trading at Rs 89,300 per 10 grams. Similarly, the price of silver also remained stable and is selling at Rs 1,07,700 per kg today.
Gold And Silver Prices
There is a slight difference in the prices of gold in different cities of the country. In the National Capital Delhi, the price of 22 carat gold is Rs 89,440 per 10 grams and the price of 24 carat gold is Rs 97,560 per 10 grams. In Chennai, 22 carat gold is being sold at Rs 89,290 and 24 carat gold at Rs 97,410 per 10 grams. In Mumbai also, 22 carat gold is trading at Rs 89,290 and 24 carat gold at Rs 97,410.
Slight fluctuation in gold silver price (Source: Internet)
In Kolkata, Jaipur, Noida, Ghaziabad and Lucknow, 22 carat gold is being sold at Rs 89,440 per 10 grams and 24 carat gold at Rs 97,560. At the same time, 22 carat gold is being sold at Rs 89,290 and 24 carat gold at Rs 97,410 in Bengaluru and Patna.
Reasons For Fluctuations
The prices of gold and silver depend on various factors every day. Their prices are fixed on a daily basis, which are based on fluctuations in the value between rupee and dollar, crude oil prices, import duty and global market conditions.
Especially, when there is an atmosphere of uncertainty and unrest in the global market, investors turn to safe investments and prefer to invest in gold and silver.
International events, such as political crisis or economic instability, have a direct impact on gold prices. In such situations, investors consider it better to stay away from the stock market and invest in gold, as gold is traditionally considered a safe investment.
This has been seen in the recent past, when there was slight fluctuation in the price of gold amid global instability, while gold prices remained stable in the Indian market.
