First Published Sep 14, 2022, 10:43 AM IST
Gold prices fell for the 3rd day in a row today. Sawaran has fallen by more than Rs.350 in the last 3 days alone.
Gold prices today fell by Rs 24 per gram to Rs 192 per gram.
The price of 22 carat jewelery gold in Chennai was Rs 4,725 per gram and Savaran at Rs 37,800 as on yesterday evening.
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In this case, as of Wednesday (today) morning, gold per gram was Rs. 24 down to Rs.4,701. Sawaran fell by Rs 192 to Rs 37,608.
Gold is selling at Rs 4,701 per gram in Coimbatore, Trichy and Vellore.
Gold prices continue to fall. Gold prices fell for the 3rd day since the beginning of this week. In the last 3 days only Sawaran has reduced by Rs.352.
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The US Federal Reserve has announced that it will raise interest rates to curb inflation. Interest rates are expected to rise at this month’s meeting.
As interest rates rise, investors will increasingly turn to the dollar as opposed to investing. This will strengthen the value of the dollar. The demand for gold is likely to decrease and the price will fall further. All this is subject to the announcement of the Federal Reserve Bank of America.
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Silver price is down today. Silver fell by 60 paise to Rs 61.80 per gram and rose by Rs 600 to Rs 61,800 per kg.
Last Updated Sep 14, 2022, 10:43 AM IST