The gold and silver prices falling: The price of gold in India, the price of silver in India Today, the price of gold per ounce

The gold and silver prices fell: A day percentage drop in five years, and took gold prices by over 20%. Silver prices fell a stunning 36 percent below the previous week's close $ 40.78 per ounce and closed the week ending Friday, September 23, 2011, to $ 30.05 per ounce to nearly 40 percent of all peak of $ 49.79 per ounce made on April 25 this year. Investors unlucky today and according to the sources of precious metal prices may fall in coming days. Silver dropped another $ 4, or 11 percent. Current price of gold in INIDA in several places, the price of gold per gram, the current gold price in India are available here, and the price of silver in India is also available. Hyderabad gold rate, the rate of silver available. Gold price per ounce $ 101.

International gold prices fell another $ 101 (Dh371) per ounce, or 6.1% in early trade this morning. This was higher than the yellow metal is one-day percentage drop in five years, and took gold prices over $ 383, or 20 percent from its high of $ 1920.30 made on September 6, 2011.
Today gold rate in Hyderabad or current price of gold in India:

Delhi: 2452.00
Mumbai: 2444.00
Chennai: 2506.00
Kolkata: 2460.00
Hyderabad: 2520.00
Bangalore: 2510.00

Silver rate in India today: Silver price for 1 kilo Rs. 58200.

Gold price per ounce $ 101.

The recovery of gold prices, silver also recover the losses of his day, was that it was trading at $ 29.47 per ounce, just $ 0.59, or less than 2 percent, below its previous close .

People can buy gold and silver, otherwise you can wait a while since the sources said that in the coming days the prices of gold and silver down.

According to sources, the prices of precious metals can fall in the coming days, the most humid feeling. Gold 99.9 and 99.5% purity fell by Rs. Rs 600 each. 26,740 and 26,600 rupees per 10 grams.

The thirst for gold price gap widens, the risks for buyers

The gap between local gold prices and the global has been extended to some VND4 million taels due to strong demand in the country, putting buyers and causing great risks smuggling gold, traders said.

Saigon Jewelry Holding Co., or SJC, last Saturday morning sold the precious metal tael VND45.6 million and bought in VND45.2 billion, while the world price at the time of a U.S. $ 1,657 per troy ounce.

Considering the free forex rate in the market at some VND21, 100 with respect to the U.S. dollar, the local price was VND3.9 million a tael more expensive than the overall price. A tael equals 1.2 troy ounces.

Very strong demand

The sales department of the Supreme Court said the company had sold about 8,000 taels of gold a day, but demand for gold among the public has not seen signs of slowing yet. In Sacombank Jewelry Co. Or SBJ, sales volume was around 5,000 taels per day.

On average, large traders were selling bullion over 17,000 taels, or 637 kilos of gold a day, or over 3.8 tons of gold in the last week, excluding the quantities sold by banks.

Companies and banks have recently been given quotas to import about four tons of gold. After winning the Central Bank shares, dealers in precious metals have made known their shares in the market waiting to get the quantity imported to replenish the inventory in place.

Despite the large supply, the thirst for gold remains as numerous depositors tend to withdraw from Vietnam dong to buy gold and securities, resulting in increased need for gold.

A banker in HCMC revealed that one of his clients had withdrawn VND200 million to buy gold.

Given the current demand, it is difficult to expect that the price difference between domestic and international prices to reduce further.

Rising gold smuggling

As the demand far exceeds supply, the observers said that smuggling of gold is increasing as the price difference is very attractive for illicit trade.

"Retailers have to buy gold bullion from other sources to balance the position because the public tends to buy more gold to keep rather than selling," said Tuong Nguyen Cong, deputy head of sales of the CSJ. Tuong hinted smuggling gold into the country.

The owner of a private company told the newspaper that the volume of smuggled gold was so abundant that can satisfy all needs.

"The price difference between buying and selling over a million tael VND1 since early August has offered an opportunity for gold smugglers for profit," he said.

"The shortage of gold creates great opportunities for smuggling gold to enter the market while it has eaten a large amount of foreign currency and the government does not collect a dime of this trade," one banker told.

Since the price spikes local shortages, gold buyers face great risks once again that the local price to a level comparable with the overall price.