Gold Silver Price 16 July: The price of silver has fallen by Rs 1001 per kg to Rs 110996. Whereas, there is a fall of Rs 456 in the price of gold. While 24 carat gold is being sold at the rate of Rs 100383 per 10 grams with GST, silver is being sold at Rs 114325 per kg.
Gold Silver Price 16 July: There is a change in the price of gold and silver even today. On Wednesday, 16 July, the price of silver in the bullion markets has fallen by Rs 1001 per kg to Rs 110996. Whereas, there is a fall of Rs 456 in the price of gold. While 24 carat gold is being sold at the rate of Rs 100383 per 10 grams with GST, silver is being sold at Rs 114325 per kg.
Price of 22 carat gold
According to IBJA rates, 23 carat gold also became cheaper by Rs 454 and opened at Rs 97070 per 10 grams. Its price with GST has now become Rs 99982. Making charge is not included in it yet. Talking about the rates issued for jewellery, the price of 22 carat gold is Rs 89273 per 10 grams. With GST it is Rs 91951. Today the price of 18 carat gold has come down by Rs 342 to Rs 73095 and with GST it has come down to Rs 75287 per 10 grams.
The spot prices of gold and silver have been released by India Bullion and Jewelers Association (IBJA). It is possible that there is a difference of Rs 1000 to Rs 2000 in your city. IBJA releases the rate twice a day. Once around 12 noon and second around 5 pm.
This year gold rose by Rs 21720 and silver by Rs 24979
This year gold has become expensive by about Rs 21720 and silver by Rs 24979 in the bullion markets. On December 31, 24, gold opened at Rs 76045 per 10 and silver at Rs 85680 per kg. On this day gold closed at Rs 75740. Silver also closed at Rs 86017 per kg.
Gold prices rise in futures market
However, on Wednesday, July 16, gold prices rose in the domestic futures market. Positive sentiment in the international market and softening of the US dollar fueled this rally. Silver was also trading higher in the spot market due to strong demand. At around 9:10 am, Gold August contract on MCX rose 0.19% to ₹97,400 (per 10 grams), while silver was trading 0.20% higher at ₹1,11,705 (per kg).
All eyes on US inflation
Investors’ attention is now on the US Wholesale Price Index (PPI) data, which is due on Wednesday. These figures will give new information about the inflation trend in the US.
Dollar weakness, strength in gold
Gold prices rose in the domestic futures market on Wednesday, July 16. Positive sentiment in the international market and softening of the US dollar fueled this rally. Silver was also trading higher in the spot market due to strong demand. At around 9:10 am, Gold August contract on MCX was up 0.19% at ₹ 97,400 (per 10 gram), while Silver was up 0.20% at ₹ 1,11,705 (per kg).
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