Currently, the international spot gold rate is trading at 1927 dollars per ounce. The spot silver rate continues at 23.70 dollars per ounce. The value of the rupee has fallen slightly against the dollar. Currently it is at Rs.81.81. It is known that at one stage recently, the value of the rupee even reached the level of Rs.83. After that it again decreased to Rs.80. Now it is moving between Rs.81-82.
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Internationally, gold and silver prices have increased slightly, but domestically, gold and silver prices have fallen. Currently, the price of 10 grams of 22 carat gold in Hyderabad has fallen by Rs.150 to Rs.52,500. And the rate of 24 carat gold in Hyderabad has fallen by Rs.170 and continues at Rs.57,270. But this is only the second time that the gold rate has fallen in the last 10 days. Finally, on January 27, the gold rate fell by Rs.600 per 10 grams.
On the other hand, the price of gold has declined in Delhi as well. There, the rate of 22 carat gold fell by Rs.150 to Rs.52,650. And the rate of 24 carat pure gold has fallen by Rs.160 and is trading at Rs.57,430 per 10 grams in Delhi. The price of gold in Delhi is slightly higher as compared to Hyderabad. This is due to local taxes.
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Silver rates have also come down due to falling gold prices. Currently, the price of silver per kg in Delhi has fallen by Rs.100 to Rs.72,300. In Hyderabad, the rate of kg silver fell by Rs.200. As a result, the price of silver per kg in Hyderabad continues at Rs.74,500 mark. On the other hand, all eyes are now on the US Fed.
In the background of rising inflation in the US, it seems that the Fed may increase the interest rates once again. Usually, if the US Fed raises interest rates, other central banks follow suit. If the interest rates rise due to this, the value of metals like gold and silver will fall and the prices will come down. Let’s see what happens. The US Fed meeting will be held in February.
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