Good news for consumers. Gold and silver prices have fallen today. In the capital Bhubaneswar, the price of 22 and 24 carat gold per 10 grams has fallen by Rs 850 and Rs 920 respectively. As a result, both have fallen to Rs 1,42,050 and Rs 1,54,970 respectively. Silver has fallen by Rs 5,000 per kilogram to Rs 2,50,000.
There are major reasons for the fall in gold and silver prices. Both metals have seen a good increase in prices in the last 10 to 15 days. When prices are high, investors book profits. That is, they take profits. This brings down the prices. Similarly, Brent crude has crossed $ 91. Rising oil prices create fears of global inflation. Due to rising inflation, the US Federal Reserve may keep interest rates high. High interest rates are negative for gold. However, some price reductions have brought some reassurance.
