Gold Silver Price: Silver price falls by Rs 2,000; Gold also became cheaper by 600 rupees, what is the reason behind the decline?

Silver Record Dip at MCX

Good news for you if you are looking to buy gold and silver. On Thursday, June 13, 2024, silver prices witnessed a sharp fall of Rs 2,000. Also, gold has become cheaper by Rs 600 per 10 grams compared to yesterday. Silver is currently around Rs 88,500 per kg, after a fall of Rs 2,000.

Silver 2 thousand rupees cheaper

Silver prices fell sharply on the Multi Commodity Exchange, falling by Rs 1,921 per kg to Rs 88,524 per kg compared to yesterday. Silver closed at Rs 90,554 per kg in the futures market on Wednesday.

Also read this: Gold Reserve: India at the third place! Purchased gold worth Rs 722 crore last month; Who is number one?

Gold cheaper by Rs.600

Along with silver, gold prices are also falling in the futures market. On Thursday, gold on MCX fell by Rs 582 to Rs 71,388 compared to yesterday. On Wednesday, the price of gold had closed at Rs 71,970.

Gold and silver are cheap in the foreign market as well

Along with the domestic market, the gold-silver prices are also seeing a big fall in the foreign market. Gold and silver prices have fallen after the presentation of the report of the Federal Reserve in the United States. Federal Reserve chief Jerome Powell said inflation had moderated but was still too high. We are working to bring inflation down to 2 percent. Which will help the economy and benefit everyone.

Also read this: Big drop in gold demand due to rising Gold Price; Demand is estimated at 700 to 800 MT

What are gold and silver rates in major cities?

• In Delhi, 24 carat gold is selling at Rs 72,310 per 10 grams and silver at Rs 95,200 per kg.

• In Chennai, 24 carat gold is selling at Rs 72,660 per 10 grams and silver at Rs 95,200 per kg.

• In Mumbai, 24 carat gold is selling at Rs 72,160 per 10 grams and silver at Rs 90,700 per kg.

• In Pune, 24 carat gold is selling at Rs 72,160 per 10 grams and silver at Rs 90,700 per kg.

Keep these things in mind while buying gold

If you are buying gold jewellery, never neglect the quality. Buy jewelery only after seeing the hallmark, which is a government guarantee for gold. The Bureau of Indian Standards (BIS) is the sole agency in India that determines hallmarks. All carats have different hall mark numbers, so buy gold only after seeing it.

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• Purchase of 24 tonnes of gold in four months; Why is RBI buying so much gold?

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