The US central bank, the Federal Reserve (Fed), is scheduled to announce its important monetary policy on July 29. Global investors appear to be adopting a cautious stance ahead of this decision, and the strengthening of the US dollar has put pressure on gold prices in the international market. On the other hand, silver prices are also falling due to reduced demand from the industrial sector. This has also affected domestic gold and silver prices. After a rise in the past day, gold has now become cheaper for the second consecutive day. Notably, the price of gold in Delhi has seen a significant decline in the last two days, with both 24-carat and 22-carat gold prices falling. Similarly, the price of silver has also declined for the second consecutive day. 

Gold prices fall sharply in Delhi in two days

In the capital Delhi, the price of 10 grams of 24 carat gold has fallen by Rs 1,700 in the last two days. The price of 10 grams of 22 carat gold has fallen by Rs 1560. The decline continued in today's trading as well and the price of 10 grams of both 24 carat and 22 carat gold has fallen by Rs 10. Due to instability in the global market, increasing strength of the dollar and the upcoming policy decision of the US Fed, there is some caution in the demand for gold, which is considered a safe investment. Therefore, experts expressed the opinion that pressure on gold prices is still there.

What is the price of gold in the 10 big cities of the country?

The prices of 10 grams of gold of 18-carat, 22-carat, and 24-carat purity in 10 major cities across the country are important for investors and consumers. These prices may vary slightly from city to city depending on local taxes, transportation costs, and supply and demand. Let's find out the current price of 1 tola of gold in different cities across India.

Silver prices continue to fall

Along with gold, silver prices are also declining. After remaining stable for two consecutive days, silver prices fell for the second consecutive day. The price of one kilogram of silver has declined by a total of ₹5,100 in the past two days. Previously, on June 25th, the price of silver increased by ₹5,000, while on July 24th, it decreased by the same amount, i.e., ₹5,000. These fluctuations are creating a persistent instability in the silver market. Today, the price of one kilogram of silver in Delhi fell by ₹100 to ₹2,34,900. Silver prices are also trading at similar levels in major metropolises like Mumbai, Kolkata, and Chennai.

PC: TV9