On Sunday, gold prices remained unchanged, with 24 carat gold costing Rs. 6,397.0 per gm, and 22 carat gold priced at Rs. 5,865.0 per gm.
In the last week, the price of 24 carat gold has remained unchanged, while it decreased by 1.36% in the last month. The cost of silver proportionately marked at Rs. 76,600.0 per kg.
Different cities in India had varying gold and silver prices, with Chennai, Delhi, Mumbai, and Kolkata registering distinctive rates with slight differences. The gold April 2024 MCX futures were trading at Rs. 0.0 per 10 gm, indicating a 100.0% decrease at the time of publishing. Similarly, the silver March 2024 MCX futures were trading at Rs. 0.0 per kg, also down by 100.0% at the time of publishing.
The volatility in gold and silver prices is influenced by numerous factors, including input from respected jewelers, global demand for gold, variations in currency values, current interest rates, and government regulations. Furthermore, the global economic climate and the US dollar’s strength against other currencies also impact gold prices in the Indian market.
The current context is crucial for investors looking to track the latest in gold and silver prices. It is essential to monitor the markets to make informed investment decisions.
This article was published on January 7, 2024, at 10:15 AM IST.
Extra insights:
In addition to gold prices, one major event that can significantly affect gold and silver prices is inflation. This occurs when the price of goods and services increases over time. During periods of inflation, people tend to turn to gold and silver as a safe investment because their value is more likely to hold steady than that of other goods and commodities. Additionally, the rise and fall of gold and silver prices can impact the economy and have broader implications for individual wealth, financial markets, and investment decisions. Therefore, it is prudent to carefully watch these factors when considering an investment in commodities like gold and silver.
