gold rate today
Last week, there was some movement in the market due to the exit polls and results of Bihar elections. Along with this, a period of ups and downs was clearly seen in the gold market also. At the beginning of the month, 24 carat gold was Rs 1,24,590 per 10 grams, but by the end of the week it came down to Rs 1,23,910. However, during this period there came some days when the price of gold increased rapidly. But the prices of gold have decreased within a week. Let us know what changes took place in prices this week and what were the reasons behind them.
gold sometimes rises, sometimes falls
The price of gold on November 10 was Rs 1,24,590 per 10 grams. Which fell slightly on the next day i.e. on 11th and closed at the level of Rs 1,24,380 per 10 grams. But the falling trend broke the very next day. There was a sharp rise in the prices of gold on 12th November and it increased by about Rs 3 thousand to reach Rs 1,27,080. This rise continued on 13 November also. However, as soon as the market calmed down on 14th November, the price fell to Rs 1,23,900 and on 15th also the price remained at almost the same level.
On the Multi Commodity Exchange also, on November 14, gold fell to around Rs 1,23,400 per 10 grams, which was a huge decline of 2.64% from the previous day. This decline is also being considered a sign of technological improvement.
Why did prices fluctuate?
Gold prices mainly depend on global conditions and investor sentiment. The US government shutdown ended on November 12, which brought some relief to the market. At the same time, gold is considered a safe investment in an uncertain environment, hence the prices went up. Along with this, the expectation of interest rate reduction by the US Federal Reserve also increased the demand for gold. But when global markets began to stabilize, investors started selling gold to make profits, causing prices to come down.
condition of silver
Like gold, the prices of silver have also been fluctuating. A week ago silver was Rs 1,48,330 per kg. It increased in a few days and on November 15, silver reached Rs 1,56,160 per kg. This clearly shows that like gold, silver is also linked to the economic situation of the world.