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Gold Price Today: 24 and 22 carat gold became cheaper, silver also fell; know the price on August 5?
Today has been an important day for investors in gold and silver. The signals from the US Federal Reserve on interest rates have created an atmosphere of caution in the global market, and its effect has been seen in the domestic bullion market as well. Gold prices have fallen for the second consecutive day and after seven days of stability, silver prices have also fallen. In the last two days, the price of 10 grams of 24 carat gold has decreased by a total of Rs 230, while the price of 22 carat gold has decreased by Rs 210. In today's trading, there has been a slight decrease of Rs 10 each in the price of 10 grams of 24 carat and 22 carat gold in the capital Delhi.
Silver loses its shine after seven days
Silver prices also fell today. After remaining unchanged for seven consecutive days, 1 kg of silver fell by ₹100. Previously, on July 28th, the price of silver fell by a significant ₹5,000. Currently, the price of 1 kg of silver in Delhi is ₹2,34,900. Silver is also being sold at similar rates in major cities like Mumbai, Kolkata, and Chennai.
Gold rates in major cities of the country
Today's updated gold rates for 10 grams of 18-carat, 22-carat, and 24-carat purity in 10 major cities across the country. Gold prices may vary slightly from city to city depending on taxes, local levies, and supply and demand. Therefore, it's important to check the latest rates at your local bullion market before purchasing jewelry.
Today's rates are as follows:
| City | 24 carat 10 gram gold rate | 22 carat 10 gram gold rate | 18 carat 10 gram gold rate |
| Delhi | ₹1,44,140 | ₹1,32,140 | ₹1,08,140 |
| Mumbai | ₹1,43,990 | ₹1,31,990 | ₹1,07,990 |
| Kolkata | ₹1,43,990 | ₹1,31,990 | ₹1,07,990 |
| Chennai | ₹1,43,990 | ₹1,31,990 | ₹1,10,140 |
| Bangalore | ₹1,43,990 | ₹1,31,990 | ₹1,07,990 |
| Hyderabad | ₹1,44,210 | ₹1,32,190 | ₹1,08,150 |
| Lucknow | ₹1,44,140 | ₹1,32,140 | ₹1,08,140 |
| Patna | ₹1,44,040 | ₹1,32,040 | ₹1,08,040 |
| Jaipur | ₹1,44,140 | ₹1,32,140 | ₹1,08,140 |
| Ahmedabad | ₹1,44,040 | ₹1,32,040 | ₹1,08,040 |
What is the reason for the fall in gold prices?
According to market analysts, the US Federal Reserve has once again expressed concerns about inflation. Therefore, there are indications that an immediate decision on interest rate cuts is unlikely. Consequently, global investors have adopted a cautious stance, directly impacting gold and silver prices.
According to experts, this week investors will pay close attention to the US non-farm payroll report, other economic indicators related to the employment market, fluctuations in the value of the dollar, and crude oil prices. All these developments will be used to predict the Federal Reserve's next interest rate policy. Because of this, experts predict further fluctuations in gold and silver prices in the coming days. Therefore, investors and consumers considering jewelry purchases are advised to closely monitor market movements.
