The festival of Akshaya Tritiya is near and the Indian bullion market has already started showing activity. Today once again a tremendous rise has been recorded in the prices of gold and silver. Especially the rise in silver prices has surprised both investors and buyers. There has been a rise of about Rs 4000 in silver prices in a single day.
Today, in early trade on Multi Commodity Exchange (MCX), silver rose by ₹ 3993 to reach ₹ 2,55,735 per kg. At the same time, gold also became costlier by Rs 861 and reached Rs 1,54,809 per 10 grams.
What is today’s price in the bullion market?
According to Good Returns data, the prices of gold of different purities in the retail market are as follows:
- 24 carat: up ₹220 to ₹1,55,570 per 10 grams.
- 22 carat: up by ₹200 to ₹1,42,600 per 10 gram.
- 18 carat: up ₹170 to ₹1,16,680 per 10 grams.
- Silver: Silver is trading at the level of ₹ 2,70,000 per kg in the retail market.
The enthusiasm for Akshaya Tritiya is most visible in the country’s capital Delhi. Due to fresh buying by stockists, by the market close on Wednesday, silver rose to ₹ 2.57 lakh per kg, while gold touched a record level of ₹ 1.58 lakh per 10 grams.
Impact of Akshaya Tritiya
Market experts say that despite the fall in the prices of gold and silver in the international markets, the Indian market remains bullish. The main reason for this is domestic demand. According to Chetan Thadeshwar, CMD, Shringaar House of Mangalsutra Limited, even though the prices are increasing, the intentions of the customers remain strong. People are now preferring light and designer jewelery instead of heavy jewellery.
condition of international market
There was sluggishness in precious metals in the global market today. Spot gold fell nearly 1 percent to $ 4,795.97 an ounce, while silver also fell to $ 78.61 an ounce. However, the demand for festive season and weddings in the domestic market is overshadowing this decline.
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
