According to All India Bullion Association, on Monday, 24 carat gold was ₹ 1,25,900 per 10 grams, which fell to ₹ 1,21,800 on Tuesday. Gold of 99.5 percent purity declined by ₹ 4,100 to ₹ 1,21,200, earlier it was ₹ 1,25,300.
Gold had become cheaper by Rs 11,541 in 8 days. The price of gold has decreased by Rs 11,541 in the last 8 days and today it has come down to Rs 1,18,043 per 10 grams. On October 19, its price had reached its highest ever level of Rs 1,29,584. Whereas silver has fallen from Rs 1,69,230 per kg to Rs 1,41,896. It has become cheaper by Rs 27,334.
On October 17, 24 carat gold had hit an all-time high of Rs 1,30,874 on India Bullion and Jewelers Association. Today, on Tuesday i.e. 28th October, its price (Gold Price Today) has become Rs 1,18,043 per 10 grams. That means gold has become cheaper by Rs 12831 in the last 12 days. Whereas on October 14, silver had touched the magical figure of all-time high with Rs 1,78,100 per kg. Whose price today is Rs 1,41,896 per kg (Silver Price Today). That means there has been a huge decline of Rs 36,204 in the last 15 days.
The price of 24 carat gold on IBJA at 12 noon (Gold Rate Today) was Rs 1,19,164, which increased to Rs 1,18,043 at 5 pm. That means there was a decrease of Rs 1121 in five hours. Whereas gold became cheaper by Rs 3034 as compared to the previous day. On Monday, the price of 24 carat gold was Rs 1,21,077. Whereas silver recorded a huge fall of Rs 3135. The price of silver on IBJA at 12 noon (Silver Rate Today) was Rs 1,43,400 per kg, which became Rs 1,41,896 at 5 pm. That means it became cheaper by Rs 1504 in five hours.
Gold this year ₹41,881 and silver ₹55,879 became expensive
What is the future trend?
Investors are now eyeing the US Federal Open Market Committee (FOMC) meeting where the possibility of a cut in interest rates is being expressed. However, analysts believe that another 5–10% decline in gold is possible, as big companies are currently booking profits.
