There is a fall in the prices of gold and silver today i.e. on March 19. According to India Bullion and Jewelers Association (IBJA), the price of one kg silver has decreased by Rs 13 thousand to Rs 2.37 lakh. Earlier on Tuesday its price was Rs 2.50 lakh per kg. At the same time, the price of 10 grams of 24 carat gold has fallen by Rs 4 thousand to Rs 1.52 lakh. Earlier on March 18, gold was Rs 1.56 lakh per 10g. Due to America-Iran war, gold has become cheaper by Rs 9 thousand and silver by Rs 31 thousand in 5 trading days. Gold price journey: From ₹1.76 lakh to ₹1.52 lakh Gold had seen a rise in the beginning of this year, but in the last few weeks it has declined due to profit-booking and global reasons. Huge crash in silver prices: From ₹3.86 lakh to ₹2.37 lakh, silver has seen more fluctuations than gold. It has come down very sharply from its all-time high. Main reasons for the decline: Leaving metal and relying on ‘cash’ Usually, gold and silver prices increase in an environment of war, but this time the situation is a little different: Saving cash: Investors are not willing to take risks due to the Middle East war. They are collecting ‘cash’ by selling their gold and silver so that they have liquid money in times of uncertainty. Profit Booking: As prices reached record highs in January, large investors began selling their holdings at higher prices, increasing supply in the market and pushing prices down. Effect of interest rates: Due to the strict stance taken by the Federal Reserve in America regarding interest rates, the shine of precious metals has faded a bit. According to commodity expert Ajay Kedia, this decline in the prices of gold and silver may continue further. Due to this, gold can cost up to Rs 1.50 lakh and silver can cost up to Rs 2.50 lakh. In such a situation, investors should avoid investing in gold and silver right now.
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Silver fell by ₹ 13 thousand to ₹ 2.37 lakh: It fell by ₹ 31 thousand in 5 days, gold price fell by ₹ 4 thousand today to ₹ 1.52 lakh
