Gold And Silver Price Update: There has been a decline in the prices of gold and silver this week, due to which the price of gold has reached Rs 1.59 lakh per 10 grams and the price of silver has reached around Rs 2.60 lakh per kg. According to India Bullion Jewelers Association (IBJA), the price of gold has decreased by Rs 346 to Rs 1,58,751 per 10 grams, which was Rs 1,59,097 per 10 grams on the same day a week ago.

At the same time, the price of 22 carat gold has decreased from Rs 1,45,733 per 10 grams to Rs 1,45,416 per 10 grams. The price of 18 carat gold has come down to Rs 1,19,063 per 10 grams, which has increased to Rs 1,19,323 per 10 grams in a week.

condition of silver prices

The price of silver has decreased by Rs 5,977 to Rs 2,60,723 per kg, which was earlier Rs 2,66,700 per kg. In the spot market, 24 carat gold touched the highest price of Rs 1,66,800 per 10 grams on March 1. At the same time, the minimum price was Rs 1,58,751 per 10 grams on March 6. Silver touched its highest price of Rs 2,89,848 per kg on March 2. Whereas, the minimum price of Rs 2,57,800 per kg was seen on March 5.

Decline in international market also

This week, there has been weakness in the prices of gold and silver at the international level also. The price of gold and silver was $ 5,158.70 per ounce and $ 84.311 per ounce, respectively, which was $ 5,247.90 per ounce and $ 93.291 per ounce respectively a week ago. The reason for the weakness in the prices of gold and silver this week is being attributed to the strength in the dollar index. During this period, the dollar index closed at 98.98, which is one of the highest levels so far this year.

future economic projections

According to economic analysts international border dispute And until tensions are reduced, prices of precious metals will remain high. Predictions from big institutions like JP Morgan have created huge excitement among long-term investors in the gold market. In the coming weeks, global developments and US interest rates will play a key role in deciding the direction of gold and silver in the domestic market.