Gold price today: Due to some decrease in global uncertainties, there can be a decrease in pressure on gold in India, although it is still considered to be the safest option for investors. If you compare Akshaya Tritiya this time with Akshaya Tritiya last year, then the price of gold has increased by about 30 percent. Whereas, according to the reports of the industry, the price of gold has increased by about 100 percent in the previous years.

According to the official website, gold was trading at Rs 94,611 per 10 grams at MCX at around 7.20 am. That is, its price has come down by about 91 rupees today. Whereas, silver on MCX is being sold at a price of Rs 94,561 per kg, that is, it has a decline of Rs 2,301.

Gold and silver decline

According to the Indian Bullion Association, the price of 24 carat gold was Rs 94,880 at 7.20 am, while 22 carat gold was trading at Rs 86,973. At the same time, silver (silver fine 999) is being sold at the rate of Rs 95,950 per kg. The special thing is that today is May 1 which is celebrated all over India as Labor Day. Apart from this, there is also Maharashtra Day, due to which the stock market is closed. Gold trade on MCX will be second half i.e. from five in the evening to eleven and a half in the night.

Your city’s new rates-

The bullion rate of gold in the financial capital Mumbai is Rs 95,710 per ten grams while Karoba is doing Karoba at the rate of Rs 94,611 on MCX. Similarly, the bullion rate of silver is Rs 95,780 per kg, while silver (999 silver fine) at MCX is Rs 94,561 per kg.

In Chennai, the bullion rate of gold is being sold at Rs 94,990, while ACX is being sold at Rs 94,611 per 10 grams. While silver on bullion is being sold at Rs 96,060 per kg, at MCX for Rs 94,561.

Talking about Kolkata, the price of gold on the bullion here is Rs 94,580 per 10 grams while Rs 94,611 on MCX. While the price of silver on the bullion is Rs 95,650, the silver on MCX is trading at the rate of Rs 94,561 per kg.

Also read: Why the stock market is closed today, why trading is not happening in the beginning of May, know the special reason

India pak tension impact on stock market: After the killing of 26 tourists on April 22 in Pahalgam, Jammu and Kashmir, the tension between India and Pakistan has increased considerably. This incident has done ghee in the fire amid the sourness in the relationship with the initiative. After this, India took many tough steps including canceling the Indus Water Agreement and reduced the number of diplomats from neighboring countries, on the other hand, Pakistan is also taking retaliation. This tension between the two countries is having a direct impact on the stock markets.

Market experts believe that if the tension continues to increase in this way, then there will be uncertainty in the market and there will be an atmosphere of fear in the interest. It is worth noting that at the rise of seven consecutive days last week, the Indian stock market got a break when this tension between the India and Pakistan increased after the incident of Pahalgam.

Effect of tension on the stock market

Talking about the last week, the BSE Sensex closed at 79212.53 level while the Nifty 50 saw an increase of one percent. The Nifty 50 had climbed about 0.80 per cent to close at 24,039.35. If we believe the report of brokerage firm Anand Rathi, then about twenty four years ago, when Vajpayee had a government at the Center, the Indian Parliament was attacked in 2001. If you leave the situation at that time, the Indian stock market had never seen a decline of more than 2 percent during the stress of India and Pakistan.

However, even at that time there was a greater impact on the market on the market, especially the fall of about 30% in the global factor, especially S&P 500. This report further states that on the basis of historical experiences and valuation of existing global risk, if there is further increase in tension between India and Pakistan, then the Nifty 50 will not see a decline of more than 5 to 10%.

Which shares have more impact

The report of the brokerage firm further states that on an average, you can see a correction of up to 7 percent in the stock market during the average geo-political tension. Significantly, after the attack on tourists in Pahalgam, there has been a tremendous development in the shares of aviation companies and hotels. Many investors are scared that the incident of Pahalgam will have a bad effect on tourism and will affect the business of hotel and aviation companies. This is the reason why these stocks saw vigorous selling.

Also read: ‘First choice for investment amidst global uncertainties India’, RBI Governor said- investors will get full help