Gold and silver prices declined due to the return of the rupee against the US dollar. On Thursday, gold became cheaper by Rs 491 in the bullion market of Delhi. At the same time, the price of one kilogram of silver has fallen by Rs 724. Experts say that due to falling international prices, there is pressure on the prices of gold in the domestic market.
New Gold Price (Gold Price, 16 September 2021) – Today in the capital Delhi, the price of 10 grams of gold fell by Rs 491 to Rs 45,735. Before this, on the previous day i.e. Wednesday, it had closed at 46,226 after a day’s trading. In the international market today, the price of gold was seen at $ 1786 an ounce.
New Silver Price (Silver Price, 16 September 2021) According to the information given by HDFC Securities, the price of silver declined by Rs 724 to Rs 61,541 per kg in the Delhi bullion market. Before this, the price of silver had closed at Rs 62,265 per kg in the last trading session. In the international market, this price stood at $ 23.60 an ounce.
Why gold became cheaper (Gold price down)
HDFC Security Senior Analyst Tapan Patel says that international gold prices are falling rapidly. Traders are now eyeing the next week’s Federal Reserve meeting. The US Central Bank will review the Federal Reserve interest rates. That is why, businessmen are avoiding making new deals.
Now what will happen next?
Asif Iqbal, Research Head, Ascourt Security, told TV9 Hindi that the trend of bullishness in the Indian stock market is continuing. Big investors from all over the world are making big investments in Indian stock markets at this time. It is expected to continue in the coming days as well.
How is the price of gold determined?
Traders say that there is a jewelery association in every city. These associations announce gold prices every morning. Due to this, the rate of gold is different in different cities.
How are the prices of your jewelry determined?
Final price of jewelery = Gold price (22 karat or 18 karat) X weight in grams + making charges + 3% GST on (jewelry cost + making charge)
Let’s assume that the price of 24 carat gold is running above Rs 50 thousand per 10 grams and the rate of 10 grams gold of 22 carat purity is Rs 48000. If you want to buy a gold chain of 9.6 grams, then its rate will be calculated like this-
Price of 1 gram of gold = Rs 4800
Price of 9.60 gm gold chain = 4800 X 9.6 = Rs 46080
Making charges (let’s say 10%) = 10% of 46080 = Rs 4608
Total rate so far = 46080+4608 = Rs 50688
3% GST on Rs 50688 = Rs 1522
Final price of gold chain = Rs 52210
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