How much did gold and silver prices rise after the new GST rates?Learn your city's latest rate gold silver price today

Gold Silver Price Today Gold and Silver are seen not only as jewelery but also as investment and safe property.The prices of these metals vary continuously due to international conditions, dollar strength, crude oil prices and domestic demand fluctuations.The recently implemented new GST (GST) rates is also being affected by gold and silver markets.Let's know the fresh sense of gold and silver in your city today.

Why does gold and silver prices fluctuate?

Gold and silver prices are directly connected to the movement of the international market.The strength of the dollar, global economic conditions, US-China trade tension, the price of crude oil and increase in domestic demand have a profound impact on them.In India, gold is bought more during marriage-marriage and festivals, so due to increasing demand in these days, the price also goes up.

Gold price according to Indian Bullion Jewelers Association (IBJA)

According to the latest report by the Indian Bullion Jewelers Association (IBJA), 24 carat gold came down to ₹ 1,09,775 per 10 grams on Friday.At the same time, 23 carat gold ₹ 1,09,335 per 10 grams, 22 carat gold ₹ 1,00,554 per 10 grams, 18 carat gold ₹ 82,331 per 10 grams and 14 carat gold ₹ 64,218 per 10 grams.

Today's price of silver

There has also been a change in silver prices.On Friday, the price of silver with 999 purity was recorded at ₹ 1,28,000 per kg.At the same time, according to the All India Bullion Association, the price of silver in the Delhi market increased by ₹ 500 to ₹ 1,32,000 per kg.On the previous day, this price was ₹ 1,31,500 per kg.

Prices in Delhi bullion market

According to the All India Bullion Association, the price of gold declined by ₹ 800 to ₹ 1,14,000 per 10 grams in Delhi's bullion market on Friday.At the same time, the price of silver increased by ₹ 500 to ₹ 1,32,000 per kg.In the local market, gold with 99.5% purity also increased by ₹ 700 to ₹ 1,13,500 per 10 grams.

New GST rate impact on gold and silver prices

Recently, the GST Council has implemented new rates on gold and silver.This has increased the tax burden on their purchase, due to which consumers are paying a little higher price.However, this change has been made to make the market stable and transparent.