12th February, 2020
The fall in gold prices in foreign markets has also affected the domestic market. In Delhi's Gold Price Today, gold prices fell for the second consecutive day on Wednesday. At the same time, due to the decrease in demand, there has been a big fall of Rs 700 per kg in silver price today. Bullion traders said that due to the boom in the global stock market, now investors have reduced their investment on behalf of gold. Due to this, there has been a sharp decline in the commodity market. Let us tell you that on Tuesday, the prices of gold and silver had come down. On Tuesday, 10 grams of gold prices fell by Rs 112 in Delhi Bullion Market. At the same time, silver prices decreased by Rs 108 per kg.
New Gold Prices (Gold Price on 12th February 2020) - On Wednesday, the price of gold in Delhi Bullion Market has come down from Rs 41,276 per ten gram to Rs 41,148 per ten gram. In the international market, gold was at $ 1,562.5 an ounce and silver was at $ 17.51 an ounce.
New Silver Price (Silver Rate on 12th February 2020) - Due to decreased demand from the industry, the price of one kg silver has come down from Rs 47,060 to Rs 46,360 per kg in Delhi Bullion market.
Why buy gold and silver cheaper - Tapan Patel, Senior Analyst (Commodities), HDFC Securities, believes that the trend of investors has decreased with the purchase of gold. Because the stock market boom is now enticing investors. Also, internationally, gold prices are continuously falling.
How are the prices of gold fixed in your city The price at which you buy gold from jewelers in the market is the spot price. The members of the bullion association of most cities decide the price at the time of market opening.
Prices are announced in the MCX futures market by adding VAT, levy, and cost. That price goes on all day. This is the reason why gold prices in different cities are different. In addition, the price of gold in the spot market is decided on the basis of purity. 22 carats and 24-carat gold prices are different. How are prices fixed on MCX- Multi Commodity Exchange (MCX) by collecting demand-supply data of gold in the Indian market and inflation situation in the global market Keeping the prices of gold in mind determines?
Also, this organization coordinates with the London Bullion Market Association in London to fix the price of gold. The futures market prices remain the same throughout the country.