Gold-Silver Price On April 30: Gold Rates See Slight Rise; Here's What You're Paying Today

New Delhi: After a week of decline, the gold prices on COMEX are seeing a slight increase on Thursday but silver is steadily declining. However, the crude oil prices surpassed $110 per barrel, signaling a decline in the commodity market. On Thursday, the rate for 24 carat gold stands at Rs 1,50,660 per 10 grams and the price of silver is Rs 2,50,000 per kilogram. 

On Thursday, in the international market, the gold rate is trading at $4,590.50 per ounce and the spot silver at $72.84 per ounce. 

The gold rate on Wednesday was Rs 1,50,440 per 10 gms, while the silver rate was Rs 2,55,000 per 1 kg, according the Bullions website.

What is the price of gold and silver?

Thursday was a volatile day for the market. While the stock market saw a significant decline, crude oil prices rose above $120 per barrel. Gold prices also saw a rise. Gold and silver are already facing significant pressure due to rising tensions between the US and Iran.

The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,50,810 per 10 grams and 22-carat gold at Rs 1,38,250. Silver traded at Rs 2,50,000 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,50,660 per 10 grams and 22-carat gold at Rs 1,38,100. Silver traded at Rs 2,50,000 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,50,660 per 10 grams and 22-carat gold at Rs 1,38,100. Silver traded at Rs 2,50,000 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,50,660
• Delhi - Rs 1,50,810
• Bengaluru - Rs 1,50,660
• Chennai - Rs 1,51,640
• Hyderabad - Rs 1,50,660
• Kolkata - Rs 1,50,660

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,50,000
• Delhi - Rs 2,50,000
• Bengaluru - 2,50,000
• Chennai - Rs 2,60,000
• Hyderabad - Rs 2,60,000
• Kolkata - Rs 2,50,000

Why there is change in the rates?

According to analysts, the major reasons behind changes are:

• International market pricing, import fees, taxes
• Blockage of the Strait of Hormuz 
• Weakness in the prices of gold and silver in the international market.
• The strengthening of the US dollar, which put pressure on demand for precious metals.
• When the dollar strengthens, spending by foreign buyers increases and this reduces demand for safe investments like gold and silver.

How much lower are the prices from their record highs?

Gold and silver touched their record highs on January 29. According to MCX, the record high level for gold is Rs 1.93 lakh, while the record high price for silver is Rs 4.20 lakh.