Multi-Currency Gold and Silver Price: Partial slowdown in gold due to higher demand for jewelry when prices rise
Publication date: | Saturday, March 18, 2023 02:50 AM (IST)
Gold and Silver Price in MP: Indore (Naiduniya Representative). Due to the absence of the wedding season and the high prices, the demand for gold jewelry has stopped for the time being. Jewelers are also less interested in buying gold at higher prices because of the gold price hike in the past two days. This is why, despite the strength of gold in the global bullion futures market on the last trading day of the week, a partial decline was recorded in the local markets.
In Indore, the price of Cadbury gold has fallen marginally to Rs 57,750 per ten gram. On the other hand, gold rose by $10 to $1,934 an ounce and silver was seen trading up nine cents at $22.01 an ounce on Comex. Due to the unavailability of silver stocks in the local market, the rate of foreign exchange kept rising in Indore. chorsa silver rose by 300 rupees to 66,900 rupees and raw silver by 300 rupees to 67,000 rupees per kilogram. There is a possibility of choppy trading in the market starting next week. Comex gold is seen trading above 1934 and below $1918 an ounce, and silver is seen trading above $22.01 and below $21.65 an ounce.
Indore closing price – In Indore, Gold Cadbury Rawa was priced at Rs 57,750 in cash, Gold (RTGS) at Rs 59,800, Gold (91.60 carats) at Rs 54,775 per ten gram. Gold closed at 57,850 rupees on Thursday. Meanwhile, silver churrasa was priced at Rs 66,900, silver ores at Rs 67,000 and silver churrasa (RTGS) at Rs 68,250 per kg. Silver closed at Rs 66,600 on Thursday.
Gold and silver prices in the Ratlam bullion market
The gold standard was 59,600 rupees and gold was 59,550 rupees per ten gram. Whereas, silver chaurasa is quoted at Rs 67,850 and silver tanch at Rs 67,950 per kg.