Punjab Newsline | New Delhi
Gold and silver prices witnessed contrasting movements on November 14, with gold becoming costlier while silver registered a significant decline. The price of 24-carat gold increased by around ₹418 per 10 grams compared to the previous closing rate.
According to the latest rates, 24-carat gold in Delhi is trading at approximately ₹1,40,664 per 10 grams. Meanwhile, the price of 22-carat gold stands at around ₹1,28,848 per 10 grams.
In contrast, silver prices witnessed a sharp decline. The rate of 999-purity silver in Delhi stood at approximately ₹1,82,244 per kilogram on November 14, down by nearly ₹2,666 compared to the previous closing price.
Why Are Gold and Silver Prices Changing?
Gold and silver prices are influenced by several factors, including international market trends, fluctuations in the US dollar and changes in investor demand.
Gold prices are particularly sensitive to movements in the US dollar and interest rates. Generally, a stronger US dollar puts pressure on gold prices, as the precious metal becomes more expensive for buyers using other currencies.
Apart from global market developments, changes in domestic demand also play an important role. A decline in jewellery demand following the festive season can influence gold and silver prices in the domestic market.
Investors and buyers continue to keep a close watch on precious metal prices amid fluctuations in the international market.
