The market for gold has been on a rollercoaster recently, with prices fluctuating unpredictably. However, for the second day in a row, prices have dropped, offering relief and excitement for buyers, particularly women preparing for weddings or festive shopping.

In Hyderabad, the price of:

• 22-carat gold is now ₹70,890 for 10 grams.
• 24-carat gold costs ₹77,340 for 10 grams.

These rates are consistent in Visakhapatnam and Vijayawada as well.

Comparative Gold Prices Across Cities

• In New Delhi, 22-carat gold is priced at ₹71,040, while 24-carat gold is ₹77,490.
• In cities like Mumbai, Kolkata, and Bangalore, prices remain slightly different, reflecting regional market dynamics.

Silver Prices Also Decreasing

Not just gold, but silver prices have also witnessed a dip:

• In Hyderabad, Visakhapatnam, and Vijayawada, 1 kg of silver is priced at ₹98,800.
• In major metros like Mumbai, Delhi, Kolkata, and Bangalore, the price per kg of silver is ₹91,300.

Why Now is a Great Time to Buy

For those planning investments, weddings, or festive purchases, this decline in gold and silver prices offers an ideal opportunity. The decrease in prices might not last long, given the volatile nature of the precious metal market.

Make the most of this golden opportunity and check with your local jeweler for updated prices.

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Gold and silver prices are known to fluctuate daily, influenced by global market trends. On Monday, December 23, 2024, the bullion market witnessed a sharp decline in prices, leaving both investors and buyers cautious about their purchases. The price of 10 grams of 22-carat gold stood at Rs. 70,990, while 24-carat gold was priced at Rs. 77,440. Silver, too, saw a dip, with the price of one kilogram of silver being Rs. 91,400.

Gold Price Decline Across Major Cities

Here’s a look at the current gold prices in some of the major cities across the country:

• Hyderabad: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Visakhapatnam & Vijayawada: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Delhi: 22-carat gold at Rs. 71,140, 24-carat gold at Rs. 77,590
• Mumbai: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Chennai: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Bangalore: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440

Silver Price Trends

Silver prices are also showing a downward trend, with the cost of one kilogram of silver recorded as follows:

• Hyderabad, Vijayawada, Visakhapatnam: Rs. 98,900 per kg
• Delhi, Mumbai, Bengaluru: Rs. 91,400 per kg
• Chennai: Rs. 98,900 per kg

Why Do Prices Fluctuate?

The price of gold and silver is subject to constant changes due to various factors, including international demand, market conditions, and global economic factors. Prices often rise when there is high demand or geopolitical instability, while they decrease when there is a stabilization in the market.

What Does This Mean for Buyers?

If you’re looking to buy gold or silver, this recent drop in prices could be a good opportunity. However, it’s always recommended to keep an eye on the market trends before making a purchase, as rates can change quickly.

The post Gold and Silver Prices Today: A Drop in Rates Across Major Cities appeared first on Vizag One.

Understanding the Personal Loan Process

Personal loans are generally easier to obtain compared to other loan options, but approval is contingent upon meeting certain eligibility criteria. Lenders typically look at factors like your income, credit score, and current expenses. If any of these criteria are not met, your application may be rejected. It is essential to provide accurate information during the application process as it can improve the chances of approval and may even lead to a loan at a lower interest rate.

The Role of a Co-Borrower

One option to consider if you have a low CIBIL score or insufficient income is to apply with a co-borrower. A co-borrower can help improve your loan eligibility, as their credit history and financial situation are also evaluated during the loan process. A co-borrower shares the responsibility of repaying the loan along with the primary borrower. This is especially helpful for individuals who fail to meet the eligibility criteria due to a low credit score.

Who Can Be a Co-Borrower?

Most financial institutions only allow the borrower’s spouse or parents to act as co-borrowers. In some exceptional cases, siblings may also be considered. Including a co-borrower in your loan application can significantly improve your chances of approval and potentially allow you to qualify for a higher loan amount.

Benefits of Adding a Co-Borrower

The presence of a co-borrower can enhance your loan application in several ways:

1. Improved Loan Eligibility: Co-borrowers share the responsibility of repaying the loan, which can improve your eligibility, especially if your credit score is low.
2. Lower Debt-to-Income Ratio (DTI): Lenders prefer borrowers with a low DTI ratio, meaning they have less debt in relation to their monthly income. A co-borrower can help reduce the overall DTI ratio, thus improving your chances of loan approval.
3. Favorable Interest Rates: Co-borrowers can help secure a loan at more favorable interest rates, making it more affordable in the long run.

Risks of Co-Borrowing

While adding a co-borrower can be beneficial, it’s important to note that both the primary borrower and the co-borrower are equally responsible for repaying the loan. If the primary borrower fails to repay the loan on time, it can affect the co-borrower’s credit score as well. Therefore, both parties should ensure that the loan is repaid promptly.

In cases where you already have existing debts, a co-borrower can still be included in the loan application. Financial institutions typically look for borrowers with a low DTI ratio, and adding a co-borrower can help fulfill this requirement, even if you have other outstanding loans.

Conclusion
A low CIBIL score doesn’t mean you can’t qualify for a personal loan. By including a co-borrower with a good credit score and stable financial background, you can improve your chances of loan approval and secure favorable terms. Remember, though, that both you and your co-borrower are jointly responsible for the loan repayment, so it’s important to be diligent about managing your finances.

The post How to Get a Personal Loan with a Low CIBIL Score: Tips and Solutions appeared first on Vizag One.

Latest Gold Prices:

According to updates available till 6 AM:

• 22-Carat Gold: ₹70,390 (10 grams), a drop of ₹610.
• 24-Carat Gold: ₹76,790 (10 grams), a drop of ₹660.

Latest Silver Prices:

• Silver per Kilogram: ₹99,000.

City-Wise Gold Rates (Per 10 Grams):

• Hyderabad:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Visakhapatnam & Vijayawada:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Delhi:
  • 22-Carat: ₹71,150
  • 24-Carat: ₹77,600
• Mumbai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Chennai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Bangalore:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450

City-Wise Silver Rates (Per Kilogram):

• Hyderabad, Visakhapatnam & Vijayawada: ₹99,000
• Delhi, Mumbai & Bengaluru: ₹91,500
• Chennai: ₹99,000

These prices were listed on various websites as of 6 AM Sunday. Prices may vary based on location and market conditions.

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