Gold prices fall drastically, know what is 10 grams today

By the middle of the month of May, the rise in gold prices seems to be stopping. For the last few days, gold prices have been coming down continuously and this trend continued on 15 May. Gold has reached its three weeks lowest level with this decline.

Along with gold, silver prices have also declined. Let us know in detail what is the condition of gold and silver in the bullion market and futures market today.

Gold condition in futures market (MCX)

Gold prices have been softened due to factors such as stress reduction and dollar strength between India and Pakistan. Today, on 15 May, the gold futures contract for June 5 on the Multi Commodity Exchange (MCX) fell by 0.70 percent, after which it was trading at Rs 91,615 per 10 grams. In the last trading session, gold fell 1.5 percent to close at Rs 92,265 per 10 grams.

Analysis of weekly decline

Looking at the last one week, gold prices on MCX have fallen by more than 3 percent. According to experts, the June futures contract of gold closed at Rs 92,265 per 10 grams on the previous day.

Silver prices are also affected

Talking about silver, its July futures contract closed at Rs 95,466 per kg with a weakness of 1.34%. Experts believe that gold and silver have not been able to maintain their previous session prices.

Why is the demand for gold decreasing?

In this wedding season, there is a decrease in demand for gold. There are also global reasons behind this. The softened figures of inflation in the US and the reduction of interest rate cuts by the US central bank Federal Reserve is giving negative indication to gold. Experts from San Francisco’s Federal Reserve Bank also believe that the strengthening policy of the US economy allows policy makers to maintain patience on the interest rates front, affecting gold prices.

Latest gold in major cities (May 15)

If you are planning to buy gold today, then 24 carats and 22 carat gold prices in different cities of the country are as follows:

• Delhi: In the capital Delhi, 24 carat gold is available at Rs 96,210 per 10 grams and 22 carat gold at Rs 86,250 per 10 grams.

• Lucknow: In Uttar Pradesh’s capital Lucknow, the price of 24 carat gold is Rs 96,239 per ten grams, while 22 carat gold is being sold at Rs 86,250 per 10 grams.

• Chennai: The price of 24 carat gold in Chennai remains Rs 96,210 per 10 grams, while 22 carats (gold with jewelery) are getting Rs 88,200 per 10 grams.

• Jaipur: Today, 24 carat gold is trading at Rs 94,305 per 10 grams in Jaipur, Rajasthan, while the price of 22 carat gold is Rs 87,800 per 10 grams.

• Patna: On May 15, the price of 24 carat gold is Rs 93,980 per 10 grams in Patna, the capital of Bihar, and 22 carat gold is being sold at Rs 88,109 per 10 grams.