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Gold Price Review: In the bullion markets, on July 31, 2023, 24 carat gold closed at Rs 59567 per 10 grams and silver at Rs 73860 per kg. While on Friday, August 18, gold closed at Rs.58471 and silver at Rs.70447. That is, the price of gold has become cheaper by 1096 rupees and the price of silver by 3413 rupees so far this month.
24 carat gold closed at Rs 58471 per 10 grams on this Friday. The price of 23 carat gold was Rs 58237 and the price of 22 carat was Rs 53559. At the same time, 18 carat gold price closed at Rs 43853 and 14 carat gold price at Rs 34206 per 10 grams. Silver closed at Rs 70447 per kg. From this point of view, gold is getting cheaper at its all-time high of Rs 3368 per 10 grams. Let us tell you that on May 5, the spot price of 24 carat gold in the bullion market touched an all-time high of Rs 61,739. While on this day silver was 77280 rupees per kg. At today’s prices, silver is becoming cheaper by around Rs 7000 per kg.
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In the first week of August, gold rose to Rs. 59,567 per 10 grams down to Rs. 59,061, while silver was Rs. 73,860 per kg down to Rs. 72,000 was closed. As for the second week, gold closed at Rs.59108 on August 7 and fell to Rs.58905 per 10 grams by the end of the week. Similarly, silver lost its luster and fell to Rs 70,098 from Rs 71,848 per kg.
Even in the third week, the reduction process did not stop
Gold prices continued to fall during the four trading days of the holiday weekend. The week started at Rs. 58,843 per 10 grams of gold, at the weekend Rs. 58,471 was closed. Whereas, silver rose marginally. Silver opened at Rs.70160 per kg at the beginning of the week and reached Rs.70447 at the end of the week.