On Thursday, the fourth trading day of the week, while the stock market saw a decline and Sensex-Nifty broke down badly, the gold prices in the commodity market also decreased. A lot of changes have been seen in the last few days. Its prices have fallen rapidly since the country’s general budget came out. However, there was a jump in gold prices in the beginning of August, but on Thursday it has become cheaper once again. The price of 10 grams of 24 carat gold in the domestic market has come down below Rs 69,000.
It is worth noting that as soon as the share market opened on Thursday, both the Sensex and Nifty indexes started declining, which continued till the end. The BSE’s 30-share Sensex closed at 78,886.22 with a fall of 581.79 points. On the other hand, NSE’s Nifty slipped 180.50 points and ended trading at 24,117.
The price of gold fell so much in one day
According to the website of the Indian Bullion Jewelers Association (IBJA), the price of gold on Thursday, August 8, 2024 has decreased as compared to the previous trading day. While the price of 24 carat 10 grams of gold was Rs 68,941 on August 7, by 5 pm today it had come down to Rs 68,840 per 10 grams. Similarly, the price of 22 carat gold had come down to Rs 67,190 per 10 grams, the price of 20 carat gold was Rs 61,270 per 10 grams and the price of 18 carat gold was Rs 55,760 per 10 grams.
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Gold has become so cheap in August
Gold prices, which reached their highest level in July, saw a sharp decline after the budget and the price of 10 grams of gold (Gold Rate) fell to around 67,000. At the same time, in the beginning of August, it again rose and crossed 70,000, in which a decline is being recorded again. If we look at the change in the price of gold in the last few days, then according to IBJA…
Date Gold Rate (24 Carat Gold)
02 August Rs 70,392/10 gram
05 August Rs. 69,117/10 gram
06 August Rs. 69,182/10 gram
07 August Rs 68,941/10 gram
08 August Rs 68,840/10 gram
Silver prices fall
If we look at the fall in silver prices in the month of August, the price of 1 kg silver was Rs 83,501 on August 2, which fell to Rs 78,950 on August 5. The price of silver increased the next day as well and on August 6, the price reached Rs 79,158 per kg. On August 7, it was sold at Rs 79,159 per kg, while on Thursday, August 8, it fell to Rs 78,600 per kg. In this way, the price of silver (Silver Rate Fall) has fallen by Rs 559 in just one day.
Source (PTI) (NDTV) (HINDUSTANTIMES)