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If you were not able to make purchases due to the skyrocketing prices of gold on Diwali and Dhanteras, then there is very good news for you. The period of decline in gold prices which had started is continuing for the seventh consecutive day today. That means, gold has become cheaper now!
This can be a great opportunity for those who were planning to buy or invest gold for marriage.
Why is gold becoming cheaper?
There are not only domestic but also international reasons behind the loss of shine of gold.
- Festive season ends: After Diwali, the purchasing power has reduced, due to which the demand has decreased.
- International Movement: The trade tension between America and China is decreasing and the dollar has also strengthened. When the dollar strengthens, gold prices usually fall.
What is the price of gold in your city today?
- Delhi: 24 carat gold becomes cheaper in the capital today ₹1,24,510 It has come down to per 10 grams. Whereas, the price of 22 carat gold ₹1,14,140 Is.
- Mumbai, Chennai, Kolkata: The decline continues in these big metros also. Price of 24 carat gold here ₹1,24,360 and price of 22 carat ₹1,13,990 Running per 10 grams.
Silver also became cheaper
Following the path of gold, silver prices also remain soft. falling price of silver ₹1,54,900 It has come down to Rs per kilogram. Silver prices have also come down due to the end of festivals and improvement in supply in the international market.
Market experts believe that for those who were waiting for the prices to come down, this could be a good opportunity to buy.
North India Statesman