By Admin 
- Gold prices fall in India, despite global strength.
- Gold became cheaper due to decline in domestic demand and increase in duty.
- Bumper jump in silver prices, Rs 2.32 lakh per kg.
Gold-Silver Rate Today on July 3: A decline is being seen in the prices of gold even today, which is a matter of great relief for the buyers. Due to recovery from lower levels in international markets on COMEX, gold is trading strong at $ 4151.80 an ounce with a gain of 0.63%.
However, despite improvement in international prices, prices in the domestic bullion market today have fallen by 0.93% as compared to yesterday. With this, today the average price of gold in the country is Rs 1,45,900 per 10 grams, whereas yesterday the average price of gold was Rs 1,47,268. That means the prices have fallen by Rs 1368 per 10 grams in a day.
Today in the national capital Delhi, the price of gold per 10 grams opened at Rs 1,45,650, which is Rs 250 less than the national average. If you are thinking of buying diamond jewelery or gold jewelery with light designs, then today the rate of 18-carat gold has become cheaper by Rs 1026 per 10 grams as compared to yesterday. Today the price of 10 grams of 18-carat gold is Rs 1,09,425.
Why are gold prices falling in India?
As you know, today gold is trading 0.63% stronger on COMEX. On the contrary, gold in India has weakened by 0.93%. There are many reasons for this:-
The wedding season is over in India. On top of that, due to the continuously falling prices of gold, there is a fear in the minds of people about its crash. In such a situation, instead of buying gold, people are busy selling it. People are withdrawing cash by selling their old gold in the bullion market. Due to this, the supply of gold has suddenly increased in the market, but due to low demand the rates are decreasing.
The government recently increased the custom duty on gold from 6% to 15%. Also appealed to the citizens to postpone the purchase of gold for the next one year. In such a situation, people are avoiding purchasing it. Due to low demand, Dylan is selling gold by reducing the premium. The strength of the dollar in the international market is also a major reason for the fall in prices.
Bumper jump in silver prices
Today on COMEX, silver is trading with a strength of 1.12% at the level of $ 61.75 an ounce. In the domestic bullion market too, there has been a huge rise of up to 1.35% in silver today. Due to this, the price has now come down to the level of Rs 2.32 lakh per kg. Today, with an increase of 1.35%, silver has become costlier by Rs 3091 per kg as compared to yesterday.
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