There has been sharp fluctuation in the prices of gold and silver for the last few days. After the increase in the prices of gold and silver on February 3 after the trade agreement between America and India, now on Thursday (05 February) there has been a slowdown in the prices. Today on Thursday, gold and silver prices are falling. In one stroke, while silver has fallen by around Rs 25,000 per kg, the price of gold has also become cheaper by Rs 1,800 per ten grams.
The shine of silver reached close to three lakh rupees, gold also gained momentum; Know how much the prices increased
What were the prices on 4th February?
There was a sharp rise in the prices of gold and silver in the bullion market for the second consecutive day i.e. on February 4. Silver reached around Rs 2.98 lakh per kg and gold reached Rs 1.65 lakh per 10 grams. According to bullion traders, the price of silver jumped by Rs 14,300 to Rs 2,98,300 per kg. Earlier in the last trading session, it had closed at Rs 2,84,000 per kg. While gold of 99.9 percent purity rose by Rs 7,400 to Rs 1,65,100 per 10 grams. A day earlier its closing price was Rs 1,57,700 per 10 grams. This rise in the prices of both the metals was recorded including tax.
Gold and silver prices increased in the international market
There was a rise in the prices of gold and silver in the international markets. There was a strong rise in the yellow metal due to increased demand for safe-haven due to increased geopolitical tension between America and Iran. Spot gold rose by 2.8% to reach $ 5,076.01 an ounce. A day before this, gold had jumped by 5.9%, which was the biggest one-day gain since November 2008. Last Thursday, gold had reached a record high of $ 5,594.82 an ounce. At the same time, American gold futures for April delivery were seen trading up 3.3% at $ 5,097.20 an ounce. Silver prices also strengthened amid sharp fluctuations. Spot silver rose 5% to $89.38 an ounce. Earlier on Thursday, silver had reached a record high of $ 121.64 an ounce, but after a record fall of 27% in a single session on Friday, it slipped to a one-month low of $ 71.33 an ounce on Monday.