Image Source : PIXABAY Gold silver price today
Gold rate in India witnessed a slight increase on Tuesday. The rate of 24 carat gold is Rs8141.3 per gm, up by Rs140.0. The rate of 22 carat gold is Rs7468.3 per gm, up by Rs170.0.
Gold price and silver rate today:
Gold rate in Delhi today is Rs81413.0/10 grams. Yesterday on January 20, the price of gold was Rs81283.0/10 grams, and last week, the price on January 15 was Rs80123.0/10 grams.
Silver rate in Delhi today is Rs99500.0/Kg. Yesterday on January 20, the price of silver was Rs99600.0/Kg, and last week, the price on January 15 was Rs95500.0/Kg.
Gold rate in Chennai today is Rs81261.0/10 grams. Yesterday on January 20, the price of gold was Rs81131.0/10 grams, and last week, the price on January 15 was Rs79971.0/10 grams.
Silver rate in Chennai today is Rs 106600.0/Kg. Yesterday on January 20, the price of silver was Donald Trump inauguration ceremony in pictures Rs 106700.0/Kg, and last week, the price on January 15 was Rs 102600.0/Kg.
Gold rate in Mumbai today is Rs81267.0/10 grams. Yesterday on January 20, the price of gold was Rs81137.0/10 grams, and last week, the price on January 15 was Rs79977.0/10 grams.
Silver rate in Mumbai today is Rs 98800.0/Kg. Yesterday on January 20, the price of silver was Rs 98900.0/Kg, and last week, the price on January 15 was Rs 94800.0/Kg.
Gold rate in Kolkata today is Rs 81265.0/10 grams. Yesterday on January 20, the price of gold was Rs 81135.0/10 grams, and last week, the price on January 15 was Rs 79975.0/10 grams.
Silver rate in Kolkata today is Rs 100300.0/Kg. Yesterday on January 20, the price of silver was Rs 100400.0/Kg, and last week, the price on January 15 was Rs 96300.0/Kg.
Factors affecting silver and gold price
The price of silver and gold is influenced by several crucial factors, including demand and supply, inflation, industrial demand, and the strength of the US dollar, as explained below:
Demand and supply: The balance between supply and demand has a significant impact on silver and gold prices. Any changes in this ratio—whether an increase or decrease in supply or demand—can cause fluctuations in the price of silver and gold.
Inflation: Inflation, which refers to the general rise in prices of goods and services, is directly related to silver and gold prices. When inflation is high, the value of currency starts diminishing, leading people to invest in tangible assets, because its price keep increasing. For instance, when inflation is low, gold and silver prices tend to decrease.
Industrial demand: As countries like India focus more on industrialisation, the demand for gold and silver in sectors like electronics, solar energy, and jewelry increases, and as a repercussion, the silver prices also tend to increase.
Strength of the U.S. Dollar: The U.S. dollar is world’s dominant currency and has a strong influence on the gold and silver prices.
