gold price today
Gold-Silver Price Today: Gold prices are once again in the headlines. Fluctuations in global markets, changes in interest rates and increasing interest of investors have again pushed this precious metal upwards. A slight decline was recorded in Thursday’s trading, but despite this, gold is still maintaining a strong lead at the end of the year. Prices are hovering around historical records, due to which investors are constantly keeping an eye on it.
Gold price in major cities today
- Delhi: Approximately Rs 1,26,880 (24 carat) per 10 grams
- Mumbai: Approximately Rs 1,27,100 (24 carat) per 10 grams
- Bengaluru: Around Rs 1,27,200 (24 carat) per 10 grams
- Kolkata: Around Rs 1,26,930 (24 carat) per 10 grams
- Chennai: Highest, around Rs 1,27,470 per 10 grams (24 carat)
Why is the price of gold increasing?
At present, the rise of gold in the world markets is due to many reasons. The reduction in interest rates in America has made gold a better investment option. Apart from this, rising inflows into exchange-traded funds (ETFs) and continuous buying of gold by central banks around the world have further strengthened the prices. In the last few months, gold reached record highs several times. Although there was a slight decline in between, it is still heading towards its strongest annual rally since 1979.
Will prices decrease next year?
While gold remains strong at present, some experts are also predicting the possibility of further decline in prices. Economists believe that after the rapid increase in the last months, gold prices may gradually come down next year. According to him, the prices may soften due to improvement in global economic situation and reduction in tension between America and China. However, at present investors are considering gold as a safe asset and its demand remains constant.
Movement in silver prices also continues
Along with gold, fluctuations are also being seen in the prices of silver. According to India Bullion Association, the spot price of silver on November 14 was Rs 1,63,120 per kg. On MCX, the silver futures price of December 25 increased to Rs 1,62,467 per kg. Investors are also now looking at silver as an option, especially when its demand in industries is continuously increasing.