By Admin 
Gold-Silver Price Today: Due to increasing tension between America and Iran, a rise in the prices of gold and silver is being seen today on 20th February. Light buying of MCX gold was seen. However, the price remained around Rs 1.53 lakh per 10 grams. MCX Silver is also trading above Rs 2.43 lakh with a slight increase. At the same time, the price of spot gold is trading above the mark of $5010.
Let us tell you that US President Donald Trump has openly warned Iran and given an ultimatum of 10-15 days for a nuclear deal, otherwise he has also threatened Iran of facing serious consequences.
Gold is costlier in India than Dubai
Today the price of 24 carat gold in the country is Rs 155,620 per 10 grams, which is Rs 830 more than the previous closing price. At the same time, the price of 22 carat gold today is Rs 142,652 per 10 grams. Gold prices in India are largely determined by the international spot gold rate, fluctuations in the US dollar and import duty on gold, etc. At present, gold is being sold at a higher rate in our country than in Dubai.
Today, the price of 24 carat gold per 10 grams in the country is Rs 155,620, while in Dubai it is Rs 147,844, which shows a difference of 7,776 or 5.26 percent. Similarly, the prices of 22 carat and 18 carat gold in India are also about 5.26 percent higher than the price of gold in Dubai. Fees, duties and taxes are not included in this. Overall, today the price of 24 carat gold in India has increased by Rs 830 per 10 grams, the price of 22 carat gold has increased by Rs 760.90 and the price of 18 carat gold has increased by Rs 622.50.
Why did gold prices increase?
Gold prices are going up and down due to the strengthening of the dollar because the strengthening of the dollar against other currencies in the currency basket usually makes gold expensive for buyers in other currencies, which reduces its demand.
The minutes of the US Federal Reserve’s FOMC meeting revealed that policy makers are divided in opinion regarding rate cuts. Some say that if inflation targets are not met then interest rates may increase. However, according to the CME Fedwatch tool, the market is still expecting at least two rate cuts for this year. Gold performs well in a low interest rate environment. Additionally, tensions between the US and Iran are also increasing the appeal of the safe-haven.
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