Gold and silver prices have taken after falling for consecutive days sees some relief as the price for gold increases by Rs 1 for 1 gram, Rs 8 for 8 gram and Rs 10 for 10 gram of gold. For 22 carat gold, the price of the yellow metal has increased to Rs 46,360 for 22-carat gold from yesterday’s range of Rs 46,350.
The gold price today on February 9th even with an increase in gold price is still below the Rs 50k mark in 69 days, it has risen by Rs 1 per one gram, and Rs 10 for 10 grams from Rs 46,350 to Rs 46,360 whereas for silver the price remained stable at Rs 66,000 per kg, falling by Rs 200, as per the website.
This marks as the fourth day where the gold price has increased, to this Ravindra Rao, Vice President- Head Commodity Research at Kotak Securities, said: “Gold recovered from recent lows as the US dollar index shed some of its recent gains. Also supporting price is increased expectations of US stimulus measures as well as mixed US jobs report”
One more reason for the gold price to increase in the global commodity market is the $1.9 trillion relief bill which is going through the courts of congress and is said to pass with the majority in both houses.
The prices of both gold and silver vary accordingly across the nations, and even state wise in India the prices due to exercise duty, sales tax and other taxes are different.
In New Delhi, the capital of India the price of 22-carat gold is cheaper than before at Rs 46,190 in Chennai it decreased to Rs 44,650, in Mumbai the rates were a little higher at Rs 46,360. In Chennai, for 24-carat gold the price is Rs 48,710. Similarly, the cheapest city to buy gold from today on February 5th would Bengaluru, Hyderabad, Mangalore, Mysore and more places with 22-carat rate being Rs 44,060 and 24-carat gold price being Rs 48,070.
