By Admin 
- Today there was a rise in the prices of gold and silver in the Indian bullion market.
- 24 carat gold ₹1,48,580; Silver reached ₹ 2,60,000 per kg.
- Global prices rose due to abatement of US-Iran tension and increased investor demand.
- Decrease in import prices, interest rate cut, the pace was faster than expected.
Gold-Silver Price Today: Today, on Saturday, June 13, a rise in the prices of gold and silver is being seen in the bullion market of India after the fall of the previous days. Due to global fluctuations and increased demand from investors, the prices of precious metals have increased again.
Today the price of 24 carat pure gold is Rs 1,48,580 per 10 grams. At the same time, the price of 22 carat gold used for jewelery is Rs 1,36,200 to Rs 1,37,230 per 10 grams. In this sequence, the price of 18 carat gold today is Rs 1,11,450-1,12,420 per 10 grams.
City wise gold prices (per 10 grams)
Delhi- Rs 1,49,320
Mumbai- Rs 1,49,580
Kolkata- Rs 1,49,380
Chennai- Rs 1,50,020
Hyderabad- Rs 1,49,820
Ahmedabad- Rs 1,49,780
Patna- Rs 1,48,910
price of silver today
There is a strong rise in silver prices today. Today silver per gram is Rs 260.10. Accordingly, today the price of one kg silver is trading around Rs 2,60,000.
Why did the price increase?
Hope of averting war between America and Iran- Uncertainty in global markets has eased a bit recently after the US President decried planned military attacks on Iran and hinted at talks. This has restored the confidence of investors, due to which large buying started in gold and silver futures in the international market as well as on the Indian Commodity Exchange (MCX).
Big cut in base import price- The government has reduced the base import price of gold from $80 to $1343 per 10 grams and the base import price of silver to $276 per kg. This has made the valuation of imports favorable for importers and big jewellers, which has strengthened the sentiments in the domestic market and increased the demand.
Buying at lower levels after huge fall- In the last few days, there was a record fall in gold and silver in the Indian bullion market. Whenever gold prices come down like this, investors and jewelers consider it a good opportunity to buy and start ‘dip buying’ (buying at low prices) in large quantities. Due to this the prices start rising again.
Expectation of reduction in interest rates- The discussion has again become heated in the global market that the US Federal Reserve may soon cut interest rates. The dollar may weaken slightly due to expectations of lower interest rates and when the dollar weakens, both global demand and prices of gold and silver increase as safe investments.
Also read:
Gold and silver jewelery became expensive by 155% and tomatoes by 48%, inflation hit everywhere from kitchen to safe.