Gold / Silver Rate Today (Today’s Gold and Silver Price): Today, the price of gold and silver has dropped for the 5th time in 6 days. Know the prices of Delhi, Hyderabad and Ahmedabad.
After a strong surge in the previous session, the prices of gold and silver in the Indian markets today (Gold / Silver Rate Today) declined. On the Multi Commodity Exchange (MCX), the price of gold futures has fallen 0.13 per cent, with a fifth fall in 6 sessions. At the same time, the price of silver futures has broken 0.2 percent. In the previous session, gold was up 1.2 percent while silver was up 2.8 percent. After reaching a record high of 56,200 in August last year, gold prices have been very volatile this year. Gold prices have fallen by 9,000 rupees from record highs.
Expressions of gold and silver (Gold and Silver Rates on 8 February 2021) – Rs Monday the Multi Commodity Exchange (MCX) fell expressions 0.13 percent, gold for delivery in February was 47,195 per 10 grams. At the same time, the price of one kilogram of silver slipped 0.28 to Rs 68,593.
Why gold is getting cheaper
Internationally, the US dollar is becoming increasingly expensive. That’s why gold prices continue to fall. At the same time, the decrease in customs duty on gold has affected the prices in the domestic market. Let us know that while presenting the budget for the financial year 2021-22, Finance Minister Nirmala Sitharaman has proposed to reduce the customs duty on gold and silver to 7.5 percent. Due to this, there is a decline in the prices of gold and silver.
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Price of 10 grams of gold can come up to 42 thousand rupees
In a press conference after the meeting of the Monetary Policy Committee on Friday, the Reserve Bank has indicated that banks have to take the CRR level to the former level of coronavirus. Since then, there are also signs of an increase in interest rates, this will also increase the pressure on gold prices. Experts believe that gold prices may fall to the current level of Rs 42,000 per 10 grams.
