Gold Silver Price Today: If you are also planning to buy gold or silver during the festive season, there is a big news for you from the market. The decline that has been going on for several days has finally stopped. With the beginning of the Diwali week, the prices of gold and silver have started to shine once again. The first day of the trading week i.e. 2nd November saw a sharp rise in precious metals both from domestic and foreign markets. The situation is such that the price has reached 3000 rupees.
The bullion market has been in a sluggish environment for a long time. If we look at the numbers, gold has fallen by around 28 percent from its all-time high. Silver was even worse off. Silver fell more than 40 percent from its record high. But the picture changed completely as soon as the market opened on Monday. The price of gold in the local market was seen around Rs 1.40 lakh per 10 grams. Similarly, silver also gained momentum and it was Rs. 1.82 lakhs per kilogram approached.
The tremendous shine is back on the MCX
The Multi Commodity Exchange (MCX) was dominated by buyers from this morning. A direct increase of Rs 500 was recorded in the price of gold for December delivery here. With this increase, gold on MCX is Rs. 1,39,200 was seen trading at the level of 10 grams. Today, silver has taken a bigger leap than gold. Silver on the MCX saw a huge jump of Rs 2,400, after which it settled at Rs 1,81,456 per kg.
18 to 24 carat gold last price in bullion market
As the week of Diwali begins, the activity in the bullion market has also increased. If you are going to buy jewelry, it is important to know the prices of different carats. 24 carat pure gold is selling at Rs 1,39,400 per 10 grams in the market. While 22 carat gold, which is used to make jewellery, is around Rs 1,27,800 per 10 grams. Apart from this, the price of 18 carat gold is around Rs 1,04,550 per 10 grams. The spot price of silver in the bullion market is trading around Rs 1,82,250 per kg.
Gold is also shining in the foreign market
Not only in India but also in the international market after a long time booming trend is being seen. Today on November 2, the price of gold has increased by 0.24 percent in the foreign market i.e. Comex. After this surge, gold was seen trading at $3908.30 per ounce. The performance of silver in the foreign market was also excellent. On the Comex, silver gained 1.52 percent to $50.025 an ounce.
Before the US election, the equations changed
Market experts are citing global cues as the main reason behind this sudden surge. Mid-term elections are going to be held in America tomorrow, Tuesday, November 3rd. A day ahead of this major political event, demand for gold and silver as safe-haven investments has increased. Apart from this, ongoing tension in the Middle East, rising inflation figures in America, rising crude oil prices are also directly affecting the price of gold. It is also worth noting that there was a huge sell-off in the American stock market last Friday. It was reported that the shares of some companies have registered a huge decline of 27 to 28 percent. Due to this upheaval in the stock market, investors have once again turned to gold and silver.
