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Gold price today in India falls to 7-month lows, silver rates drop

On Thursday 22 September, Gold and silver prices are seen falling in the Indian market . At the same time, the price of gold has fallen for the third consecutive day in the international market today, but silver has strengthened. The price of gold has gone down to the lowest level of 7 months in India today.

By Priyanka Verma 
Updated Date

New Delhi: On Thursday 22 September, Gold and silver prices are seen falling in the Indian market. At the same time, the price of gold has fallen for the third consecutive day in the international market today, but silver has strengthened. The price of gold has gone down to the lowest level of 7 months in India today. The price of gold on the Multi Commodity Exchange (MCX) has fallen 0.21 percent in early trade.

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Similarly, Silver Rate Today is also being quoted 0.30 percent below the closing price of yesterday. On Thursday, MCX gold of 24-carat purity fell by Rs 105 to Rs 49,338 per 10 grams at 9:10 am. On Thursday, trading in gold in the futures market started from the level of Rs 49,314.00. After some time the price reached the level of Rs 49,314.00. But, later there was a slight uptrend and it started trading at Rs 49,338.

Today, the price of silver is also bearish on the Multi Commodity Exchange. The rate of silver has fallen by Rs 172 to Rs 57,126 per kg on Thursday. Today trading in silver started from Rs 56,961. After some time the price increased and it started trading at Rs 57,126.

On Thursday, there has been a softening in the price of gold in the international market, while silver has gained some strength. The spot price of gold has fallen by 0.32 percent today. At the same time, the rate of silver has strengthened by 0.51 percent. The price of gold has gone up to $ 1,660.95 per ounce today. Today the spot price of silver has increased to $ 19.39 an ounce in the international market.

Market experts expect a rise in gold ahead. Ajay Kedia, director and commodity expert of Kedia Advisory, says that Navratri is going to start from next week. This will increase the customer base in the market. After Navratri, Dussehra and then two weeks later, big festivals like Dhanteras-Diwali will come. There is bound to be a jump in the sale of gold and silver on these festivals. If we look at the demand and environment coming from today’s price, then till Diwali, the price of gold can go up to Rs 51,000 to Rs 51,500 per 10 grams. By December, it can even cross the 52,000 mark.

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