Gold Price Today 7th January 2021: The rate of gold and silver has been on the upswing for the past several days, but later it again picked up.
In the bullion markets across the country, on Wednesday, 24-carat gold spot price became cheaper by Rs 120 per 10 grams and opened at Rs 51532 and closed at Rs 51660 with a slight increase of Rs 8. While silver became cheaper by Rs 275 and opened at Rs 69231 per kg and closed up by Rs 722. On the other hand, gold prices fell by Rs 71 to Rs 51,125 per 10 grams in the national capital on Wednesday. In the previous trade, the precious metal had closed at Rs 51,196 per 10 grams. However, silver rose by Rs 156 to Rs 70,082 per kg as against Rs 69,926 per kg on the previous day. Explain that the rate released by the India Bullion and Jewelers Association and the price of your city can vary from 500 to 1000 rupees.
According to the India Bullion and Jewelers Association website (ibjarates.com), on January 7, 2021, the gold and silver spot prices across the country remained as follows…
Evening price
| Metal | 7 January rate (Rs / 10g) | Rate of 5 January (Rs / 10g) | Rate change (Rs / 10g) |
| Gold 999 (24 carat) | 51660 | 51652 | 8 |
| Gold 995 (23 carat) | 51453 | 51445 | 8 |
| Gold 916 (22 carat) | 47321 | 47313 | 8 |
| Gold 750 (18 carat) | 38745 | 38739 | 6 |
| Gold 585 (14 carat) | 30221 | 30216 | 5 |
| Silver 999 | 70228 Rs / Kg | 69506 Rs / Kg | 722 Rs / Kg |
Gold futures prices also rise
Due to strong spot demand, speculators bought fresh deals, leading to a rise of Rs 60 to Rs 51,780 per 10 grams in futures trade on Wednesday. On the Multi Commodity Exchange, gold futures delivered in February rose by Rs 60, or 0.12 per cent, to Rs 51,780 per 10 grams. It traded for 10,292 lots. Market analysts said that fresh futures buying by traders led to rise in gold futures. In the international market, New York gold was trading 0.11 percent up at $ 1,956.50 an ounce.
Silver futures went up
On Wednesday, silver futures rose by Rs 193 to Rs 71,051 per kg in the futures market. At the Multi Commodity Exchange, silver for delivery in March rose by Rs 193, or 0.27 per cent, to Rs 71,051 per kg, with a turnover of 16,013 lots. Market analysts said the main reason for the rise in silver futures was the fresh buying by traders on the back of a firm trend in the domestic market. Globally, silver was up 0.83 percent at $ 27.87 an ounce in New York.
Also Read: Gold Futures Price: Gold futures fall, silver also breaks, know what is left of prices
Gold and silver prices rise in Indore
On Wednesday, gold rose by Rs 325 per 10 grams and silver by Rs 500 per kg in the local bullion market. In spot trade, gold was at Rs 52950, down at Rs 52675 per 10 grams and silver was at Rs 68675, at below Rs 68050 per kg. Average prices of precious metals (without GST) remained as follows.
- Gold 52925 per 10 grams.
- Silver 68650 per kg.
- Silver coin Rs 750 per piece.
Morning quote
| Metal | 7 January rate (Rs / 10g) | Rate of 5 January (Rs / 10g) | Rate change (Rs / 10g) |
| Gold 999 (24 carat) | 51532 | 51652 | -120 |
| Gold 995 (23 carat) | 51326 | 51445 | -119 |
| Gold 916 (22 carat) | 47203 | 47313 | -110 |
| Gold 750 (18 carat) | 38649 | 38739 | -90 |
| Gold 585 (14 carat) | 30146 | 30216 | -70 |
| Silver 999 | 69231Rs / Kg | 69506 Rs / Kg | -275 Rs / Kg |
IBJA rates are recognized nationwide
Explain that the rate issued by IBJA is universally accepted. However, GST has not been included in the rate given on this website . When buying and selling gold, you can refer to the rate of IBJA. According to the India Bullion and Jewelers Association, ibja shows the average price of gold and silver from 14 centers across the country by taking a current rate. The current rate of gold-silver or, say, the spot price may be different at different places, but there is a slight difference in their prices.
