Gold-Silver Rates: How much further will prices fall? Gold and silver have become cheaper again today; check the latest rates.
Gold-Silver Rates: Gold and silver prices have dropped once again today. A decline in the prices of both metals is being observed. A strong dollar index and the Federal Reserve's policy stance are being cited as the reasons behind this trend.
Gold-Silver Rates Today (June 26): A decline in gold and silver prices is being witnessed again today, Friday (June 26). The market has been under pressure for the past 2-3 days due to selling in global markets and the US Federal Reserve's hawkish stance regarding interest rates. Consequently, prices of precious metals are falling.
How much have prices fallen compared to yesterday?
Today, the price of 24-carat gold has dropped by ₹940 per 10 grams compared to yesterday (June 25). While the price was ₹1,41,070 yesterday, it has fallen to ₹1,40,130 today. Similarly, the price of 22-carat gold has seen a decline of ₹860 per 10 grams today; the rate has dropped from ₹1,29,220 yesterday to ₹1,28,360 today.
What is the situation with silver?
Yesterday (June 25), silver prices fell by ₹10,000 per kilogram. In contrast, a marginal decline of ₹100 per kilogram is being observed today. Yesterday, the price of silver was ₹2,35,000 per kilogram, and today it stands at ₹2,34,900 per kilogram.
Why are gold and silver prices falling?
In the global market, the US dollar has reached a 13-month high of 101.50. This has put pressure on gold prices. Furthermore, investors are booking profits on gold—causing prices to fall—amidst diminishing prospects of interest rate cuts by the US Fed and concerns regarding potential future hikes.
Will prices surge ahead?
Global brokerage firm UBS (Union Bank of Switzerland) has forecast a future rally in gold and silver prices. Although gold has dropped by 28% from its peak, UBS believes this decline is temporary. By the end of the year, the price of gold in the international market could surge to $5,500 per ounce; this implies that gold prices could rise by as much as 36% from current levels over the next six months.
