Gold price today: Gold prices fell for the third consecutive day, know the price of 22 carat today

Gold Price Today: Gold prices fell in Indian markets for the third consecutive day amid falling global prices. After two days of decline on MCX, gold prices rose by 1 percent to 46,464 per 10 grams. The rate of silver rose by 0.2 percent to 66,300 per kg. In the last session, gold had fallen by 0.41 percent, while silver had fallen by 1.3 percent. Spot gold fell 0.3 percent to $ 1,728.15 an ounce in global markets.

The price of 22-carat gold in New Delhi is Rs 45,700 per 10 grams, while in Chennai it fell to Rs 43,800. The rate in Mumbai was Rs 44,750. The price of 24-carat gold in Chennai was Rs 47,780 per 10 grams. According to HDFC Securities, due to weak global cues, gold fell by Rs 57 to Rs 46,070 per 10 grams in the national capital on Monday. The precious metal had closed at Rs 46,127 per 10 grams in the previous trade. Silver also declined by Rs 270 to Rs 66,043 per kg in the previous trade.

Today, prices of 22 carat gold in Lucknow and Patna were Rs 45170 and Rs 44570 per 10 grams. The precious metal had closed at Rs 45,181 per 10 grams in the previous trade. Silver also rose by Rs 682 to Rs 65,468 per kg in previous trade due to the rise in gold.

The fall in gold imports during the 11 months of the current financial year has helped limit the country’s trade deficit to US $ 84.62 billion as compared to US $ 151.37 billion a year ago. India is the largest importer of gold, which mainly caters to the demand of the jewelry industry.

Indian imports the bulk of its gold and silver needs. Duty was increased by 10 percent from July 2019, so the prices of gold rose sharply. In the budget presented on February 1, the government has reduced the customs duty.

Reducing the import duty on gold to 7.5 percent was a long-standing demand of the James & Jewelry industry. The higher import duty was not only indirectly promoting illegal gold transactions but was also hurting the government’s revenue. It is believed that this will put a stop to smuggling.