Stories
Gold and Silver Prices Fall for 3rd Consecutive Day; What Are Today's Rates?
- •The upward trend in gold and silver prices has been broken, with rates falling for the third consecutive day.
- •Escalating tensions in West Asia, increased bond yields, and indications of interest rate hikes have led to a decline in gold prices.
- •Over three consecutive days, 24-carat gold has become cheaper by Rs 3,890 and 22-carat gold by Rs 3,560.
- •Today, September 30, prices for both 24-carat and 22-carat gold have fallen by Rs 10 each.
- •Due to a slowdown in industrial demand, silver prices also fell by Rs 100 per kilogram.
Key Questions Answered
In major metropolitan cities like Mumbai, Kolkata, and Chennai, the price of 10 grams of 24-carat gold stands at Rs 1,48,790, while 22-carat gold costs Rs 1,36,790 per tola, and 18-carat gold is priced at Rs 1,11,590. Meanwhile, silver is being sold at Rs 2,39,900 per kilogram.
Precious metal prices have dropped due to escalating West Asia tensions, rising bond yields, expectations of interest rate hikes by the US Federal Reserve, and a strengthening dollar. Additionally, a slowdown in industrial demand has contributed to the drop in silver prices.
Over three consecutive days following a day of stability, 24-carat gold became cheaper by Rs 3,890 and 22-carat gold by Rs 3,560, with an additional fall of Rs 10 each on September 30. Silver also declined by Rs 100 per kilogram on September 30 to reach Rs 2,39,900 after an earlier drop of Rs 5,000 on September 28.
