Gold and silver prices fell today, Tuesday, December 30th. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹2,182 to ₹1,34,599. Yesterday, it was ₹1,36,781/10g. After rising for five consecutive days, the price of silver fell by ₹3,111. Today, it is selling at ₹2,32,329 per kilogram. Yesterday, silver was at ₹2,35,440. This year, gold has become 76% more expensive and silver has become 169% more expensive. Why do rates vary across cities? IBJA’s gold prices do not include 3% GST, making charges, and jeweler’s margin. Therefore, rates vary across cities. The RBI uses these rates to determine the rates for Sovereign Gold Bonds. Many banks use them to determine gold loan rates. 3 major reasons for the rise in gold prices 3 major reasons for the rise in silver prices may increase further in the coming days Ajay Kedia, Director of Kedia Advisory, says that there is currently a surge in the demand for silver, which is expected to continue. In such a situation, silver may reach Rs 2.75 lakh in the next one year. By the end of this year, the price of silver may reach Rs 2.10 lakh per kg. If we talk about gold, its demand is also rising. In such a situation, it may cross Rs 1.50 lakh per 10 grams by next year. ————————- Read this news also… Gold worth more than the country’s GDP in Indian homes: 34,600 tonnes of gold is worth Rs 450 lakh crore, the country’s GDP is Rs 370 lakh crore The total value of gold owned by Indian families has crossed $5 trillion (Rs 450 lakh crore). This figure is more than the country’s total GDP of $4.1 trillion, i.e., Rs 370 lakh crore. This is due to gold prices reaching record highs. Click here to read the full story…
