If the gold prices continue to remain stable today, the silver rate also followed the same path. Silver price remains stable. Silver price per kg is Rs. 60,700 remains the same. But the silver rate yesterday was Rs. It is known that it fell to 600. On the other hand, the prices of gold and silver in the international market have seen a decline. It is noteworthy that despite the decrease in the prices of gold and silver in the global market, the rate of crude oil in the domestic market has remained stable. While the above mentioned gold and silver prices are inclusive of GST and manufacturing charges.
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Gold prices fell by 0.34 percent per ounce in the international market. The rate of amber continues at $1743 per ounce. Also, when it comes to silver rate, it has declined by 1.14 percent per ounce. With this, the silver rate is moving at 18.53 dollars per ounce. If the rate of paddy decreases in the global market, the effect is likely to be seen in the domestic market.
China chasing Russia
If we look at the list of countries that consume the most gold in the world, China is at the top. China imports a lot of gold every year. It is followed by India. But now China is chasing Russia for gold. Due to Western sanctions against Russia, China is buying more gold from Russia. China imported $108.8 million worth of gold from Russia in July. This is a 750 percent increase compared to the month of June. Compared to the same month last year, there has been an increase of 4,800 percent. Russia is the second largest producer of gold in the world. Moreover, it seems that Russia is selling gold to China at a discount of 30 percent.
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