On October 5, the price of one pavan was Rs 41,920. That was a six-month low. Later, the Israeli-Palestinian conflict started in the West Asia, which led to a huge jump in the price of gold in the international market. This quickly reflected in the domestic market as well. With this, on October 28 and 29, one pavan of gold was recorded at Rs 45,920. An increase of Rs 4,000 per pawan in three weeks.
Meanwhile, different rates of 22 carat gold are recorded for Sunday trade in major cities of the country. In Mumbai, which is known as the financial capital of the country, Rs 5,650, in the national capital city of Delhi Rs 5,665, in Ahmedabad Rs 5,655 and in Chennai Rs 5,715 per gram were recorded today.
Similarly, 5,665 rupees in Kolkata, 5,650 rupees in Kolkata, 5,665 rupees in Lucknow, 5,650 rupees in Bengaluru, 5,665 rupees in Jaipur, 5,655 rupees in Patna, 5,650 rupees in Bhubaneswar and 5,650 rupees in Hyderabad for one gram of 22 carat gold.
In the last week, gold prices also fluctuated in the international market. The market was mainly influenced by the monetary policy committee meetings of the US Federal Reserve and the Bank of England. The Federal Reserve’s decision to keep interest rates unchanged is positive for the gold market. US bond yields are expected to fall.
A fall in US bond yields is a factor driving gold’s gains. Gold is currently trading near the $2,000 level per troy ounce. However, the unemployment rate due out on Thursday and the inflation rate next week are factors influencing gold, so caution is warranted.
Today there is no change in the price of silver in the jewelery market of the state. The rate of silver remains at Rs 78 per gram. 780 for 10 grams of silver, 7,800 for 100 grams of silver and 78,000 for one kilogram of silver were recorded today.