Gold Silver Price in MP: Know the prices of gold and silver in Ratlam and Ujjain including Indore bullion market here.


Gold Silver Price in MP: New policy to hedge gold by RBI, gold prices decreased. The price of silver increased.

By Sameer Deshpande

Published Date: Tue, 13 Feb 2024 08:26 AM (IST)

Updated Date: Tue, 13 Feb 2024 08:26 AM (IST)

Indore Bullion Market

HighLights

  1. RBI has announced to hedge gold prices in the OTC segment of IFSC.
  2. Physical buyers can buy gold in OTC and short-term futures to secure their positions.
  3. Efficient price discovery, quality assurance and active retail participation will lead to increased liquidity.

Naiduniya Representative, Indore Gold Silver Price in MP. RBI has announced to hedge gold prices in the OTC segment of IFSC. This will increase liquidity in gold transactions. This move will benefit both jewelers and importers. When a jeweler buys gold bars from banks or other agencies, delivery takes several days, and gold prices fluctuate greatly during these waiting periods.

This creates a risk for the buyer. Now, physical buyers can buy gold in OTC and short-term futures to secure their positions. Hedging of gold prices on OTC is extremely viable and will help in creating a vibrant gold ecosystem. This will lead to efficient price discovery, quality assurance and active retail participation and increase liquidity. Gold importers, jewelers and retailers will also directly benefit from this step.

Meanwhile on Monday bullion market There was slight softening of gold price due to the impact of international market. Sleep Cadbury Rava was quoted in cash at Rs 63750 per ten grams. Silver remained strong by Rs 500. Silver Chaurasa was quoted at Rs 72400 per kg. According to Nripendra Yadav, Analyst, Swastik Investmart, the outlook for gold prices is still positive as ongoing geopolitical issues support gold prices.

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The US Fed will start cutting interest rates this year. This may lead to a rise in gold prices as the central bank’s accommodative monetary policy supports gold prices.

On the other hand, the World Gold Council has estimated that gold demand in India in 2024 will be better than last year, indicating support for gold prices at lower levels. Demand for gold from the electronics industry may continue to increase, leading to increased consumption of gold and silver and thus keeping prices higher. On Comex, gold futures fell to $ 2026 and 2021 per ounce and silver futures to $ 22.94 and $ 22.54 per ounce.

Indore Bullion Market: Closing prices of gold and silver in Indore bullion market

Gold Cadbury Rawa was quoted in cash at Rs 63750 (RTGS) 64025 Gold (91.60 carat) at Rs 58650 per ten grams. On Saturday, gold had closed at Rs 63775. Chandi Chaurasa 72400 Chandi Tunch 72500 Chandi Chaurasa (RTGS) was quoted at Rs 72400 per kg. On Saturday, silver had closed at Rs 71900.

Ratlam Sarafa Bazar: Gold and silver prices of Ratlam Sarafa Bazar

Ratlam Bullion: Silver Chaurasa 72500, Tunch 72600, Gold Standard 64050, Rava Rs 64000. (RTGS Quote)

Ujjain Sarafa Bazar: Gold and silver prices of Ujjain Sarafa Bazar

Ujjain Bullion: Gold Standard 64850, Gold Rava 64750, Silver Pat 72600, Silver Tunch 72500, Coin 800.

  • ABOUT THE AUTHOR

    : Has been reporting sports for Naiduniya newspaper for the last 15 years. Played a special role in many major occasions including Cricket World Cup, Davis Cup and Tennis. Many national and international tournaments of various sports have been organized. ,


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