Mumbai, March 8: This week has seen a decline in gold and silver prices. Gold is now priced at ₹1.59 lakh per 10 grams, while silver is around ₹2.60 lakh per kilogram.
According to the India Bullion and Jewellers Association (IBJA), the price of gold has decreased by ₹346, bringing it down to ₹1,58,751 per 10 grams from ₹1,59,097 per 10 grams a week ago.
The price of 22-carat gold has fallen from ₹1,45,733 per 10 grams to ₹1,45,416 per 10 grams. Similarly, 18-carat gold is now priced at ₹1,19,063 per 10 grams, down from ₹1,19,323 per 10 grams last week.
Silver has seen a significant drop of ₹5,977, now priced at ₹2,60,723 per kilogram, compared to the previous price of ₹2,66,700 per kilogram.
In the spot market, 24-carat gold reached a peak of ₹1,66,800 per 10 grams on March 1, while the lowest price recorded was ₹1,58,751 per 10 grams on March 6.
Silver peaked at ₹2,89,848 per kilogram on March 2, with a low of ₹2,57,800 per kilogram observed on March 5.
Internationally, both gold and silver prices have also weakened this week. Gold is priced at $5,158.70 per ounce, and silver at $84.311 per ounce, down from $5,247.90 and $93.291 per ounce, respectively, a week ago.
The decline in gold and silver prices this week is attributed to the strengthening of the dollar index, which closed at 98.98, marking one of the highest levels this year.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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