Gold prices have fallen in the backdrop of Akshaya Tritiya and during the wedding season. Today, the price of 24-carat gold has fallen by a huge Rs 2,700. Today, the price of 24-carat gold in the bullion market has risen to Rs 95,784 per 10 grams. While silver has become expensive by Rs 508 to Rs 96,115 per kg. The India Bullion and Jewelers Association (IBJA) has announced the bullion market rates, which do not include GST. There may be a difference of Rs 1000 to Rs 2000 in your city. IBJA issues rates twice a day. Once around 12 noon, and the second time around 5 pm.
According to IBJA rates, the price of 23-carat gold today fell by Rs 2,690 to Rs 95,400 per 10 grams. While the average spot price of 22-carat gold fell by Rs 2,473 to Rs 87,738 around noon. The price of 18-carat gold fell by Rs 2,025 to Rs 66,960 per 10 grams. On the other hand, the price of 14-carat gold fell by Rs 1,779 to Rs 56,034.
On Tuesday, gold prices in Delhi had crossed Rs 1.02 lakh (including GST). Small investors have withdrawn from investing in gold. Due to this, gold sales in the Delhi wholesale market have fallen by 60 percent.
Will the estimate of 55,000 be true?
According to Ajay Kedia, President of Kedia Commodities, there is no truth in this claim. Because the factors supporting gold are still prevailing. Such as geopolitical tensions (war, tension), de-dollarization, central banks and ETF purchases are ongoing. Fears of inflation and recession are also haunting. In such a situation, investors are rushing towards safe investments like gold. Due to this, gold will become expensive. He also said that there may be some improvement, but it seems impossible to reach the level of 50,000 and 55,000.