Bhopal
With the beginning of Pitru Paksha, fluctuations are being seen in the bullion market. The prices of gold and silver have fallen in the Varanasi market. Let us know about this change in detail.
fall in gold prices
On Wednesday, September 18, the shine of gold faded somewhat. As soon as the market opened, the price of gold saw a fall of up to Rs 170 per 10 grams. This fall was different for different carats of gold:
24 Carat Gold:
New price: Rs 75,040 per 10 grams
Previous price (September 17): Rs 75,210 per 10 grams
Fall: Rs 170
22 Carat Gold:
New price: Rs 68,800 per 10 grams
Previous price: Rs 68,950 per 10 grams
Drop: Rs 150
18 Carat Gold:
New price: Rs 56,290 per 10 grams
Previous price: Rs 56,420 per 10 grams
Fall: Rs 130
Big drop in the price of silver
Along with gold, a big drop was also seen in the price of silver
New price: Rs 92,000 per kg
Last price (September 17): Rs 93,000 per kg
Drop: Rs 1,000 per kg
Reasons for price fluctuations
There is a daily change in the prices of gold and silver in the bullion market. There can be many reasons behind this:
1. Tax changes
2. Changes in excise duty
3. The influence of the international market
4. Local demand and supply
Precautions while buying gold
There are a few things to keep in mind while buying gold:
1. Check the purity of gold
2. Give preference to hallmarked gold
3. 24 carat gold is the purest
4. 18 to 22 carat gold is suitable for jewellery
Estimating future prices
According to Tilokchand Bardia, a famous bullion trader of Chhattisgarh, there has been a fluctuation in the prices of gold and silver in the third week of September but the prices of gold and silver will definitely increase in the near future.
Prices increased for the first two days
Decline on the third day
Prices are likely to fall further in the coming days
Effect of paternal side
There are some restrictions on the purchase of gold and silver during Pitru Paksha. During this time people avoid buying jewellery, which can affect the prices. This fall can be an indication of this.
Price fluctuations in the bullion market are a normal process. This decline seen during Pitru Paksha may be temporary. Buyers are advised to carefully monitor the market conditions and buy at the right time. Also, pay special attention to the purity and certification of gold and silver.
It is important to note that gold and silver prices keep changing constantly. Therefore, it is always advisable to check the latest prices and seek expert advice before investing or buying. This way, you can keep your investment safe and take advantage of market fluctuations.
