CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Gold and silver prices saw a major decline this week. Amid continued fluctuations in precious metals, investors as well as ordinary buyers are keeping a close watch on the market. According to available IBJA data, 24-carat gold became cheaper by about ₹4,694 per 10 grams during the week, while silver prices recorded a fall of about ₹8,436 per kg.
At the start of the week too, pressure was visible on gold and silver in the domestic futures market. On September 7, gold was trading on the MCX at around ₹1.52 lakh per 10 grams, while silver was trading at about ₹2.36 lakh per kg.
Several factors are being cited behind this decline in the market, including international economic conditions, expectations over US interest rates, movement in the dollar and investor sentiment. On September 11 as well, sharp fluctuations were seen in gold and silver on the MCX.
However, gold and silver rates keep changing continuously, and retail prices may vary according to city, purity, GST and making charges. Buyers should therefore check the latest rates in the local market before making any purchase.
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