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Gold and Silver Prices Today (11th June): How do we determine these prices?

The very nature of markets is that they react rapidly to short-term factors.

By Desk
Published on :
Gold Price Today Rises in India
Gold Price Today Rises in India

Gold and Silver Prices Today: As gold and silver are among the most traded precious metals, there is a lot of interest in learning about the factors that influence their prices and how to get accurate price information for them.

On Tuesday, the price of 24 carat gold decreased by Rs. 540.0 to Rs. 7302.7 per gram. The price per gram of 22-carat gold has decreased by Rs. 495.0. 24 carat gold’s price has increased by 0.27 percent in the past week, while it has decreased by 0.14 percent in the past month.

Gold and Silver Prices Today

Gold Prices In Cities

  • Delhi: ₹ 6,584
  • Kolkata: ₹ 6,569₹
  • Bangalore: ₹ 6,569₹
  • Hyderabad: ₹ 6,569
  • Kerela: ₹ 6, 585
  • Pune: ₹ 6, 585
  • Ahmedabad: ₹ 6, 590

 The Factors That Decide Gold Rates in India

Let’s take a close look at the factors that influence the price of gold in India.

  1. Inflation rate
  2. Gold reserves
  3. Jewellery market
  4. Industrial Demand
  5. Production Cost
  6. Hauling cost

As gold costs are impacted by different elements, hopeful gold financial backers ought not be too speedy to even consider getting; it’s anything but a basic matter of just ‘purchasing more gold when times are terrible’.

Gold And Silver Prices Today On June 10, 2024: Check Rates In Your City

Silver Prices Today per KG

  • Chennai: ₹ 95000.00
  • Mumbai: ₹ 90500.00
  • Delhi: ₹ 90500.00
  • Kolkata: ₹ 90500.00
  • Bangalore: ₹ 91500.00
  • Hyderabad: ₹ 95000.00
  • Kerala: ₹ 95000.00
  • Pune: ₹ 90500.00
  • Ahmedabad: ₹ 90500.00

What Influences Silver Prices?

  • Supply and Demand
  • Silver Scrap
  • Technology
  • National and Global Economic Trends (Macro)
  • Inflation

You must also be aware of the distinctions between short-term and long-term investing, as well as between speculation and investment. Markets are built to quickly respond to short-term factors like those mentioned above.