Today’s Gold and Silver Prices in Different Cities
Gold prices slipped by Rs 80 to Rs 80,580 per 10 grams on Tuesday, bringing an end to its five-day winning streak in the national capital.
New Delhi: Gold prices slipped by Rs 80 to Rs 80,580 per 10 grams on Tuesday, bringing an end to its five-day winning streak in the national capital. This decline came amid a weak global trend, according to the All-India Sarafa Association.
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On Monday, the precious metal had closed at Rs 80,660 per 10 grams.
Silver Prices Fall Sharply
Silver also witnessed a sharp decline, falling by Rs 1,300 to Rs 91,700 per kg on Tuesday, driven by slack demand from industrial units and coin makers. The white metal had closed at Rs 93,000 per kg in the previous session.
Gold 99.5% Purity Declines
The price of gold with 99.5% purity fell by Rs 80 to Rs 80,180 per 10 grams, compared to the previous close of Rs 80,260 per 10 grams.
Gold contracts for February delivery also saw a drop of Rs 16, closing at Rs 78,150 per 10 grams in the futures market on the Multi Commodity Exchange (MCX).
Market Insights on Gold and Silver
“Gold traded within a tight range as MCX Gold fluctuated between Rs 78,150-78,400. In contrast, Comex Gold displayed slight weakness, hovering around USD 2,665,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities.
Gold Rates in Major Indian Cities:
| City | 22K Gold (per gram) | 24K Gold (per gram) | 18K Gold (per gram) |
|---|---|---|---|
| Chennai | ₹7,330 | ₹7,996 | ₹6,040 |
| Mumbai | ₹7,330 | ₹7,996 | ₹5,997 |
| Delhi | ₹7,345 | ₹8,011 | ₹6,010 |
| Kolkata | ₹7,330 | ₹7,996 | ₹5,997 |
| Bangalore | ₹7,330 | ₹7,996 | ₹5,997 |
| Hyderabad | ₹7,330 | ₹7,996 | ₹5,997 |
Silver contracts for March delivery also declined by Rs 128, or 0.14%, to Rs 90,385 per kg on the MCX.
Global Market Impact on Gold Prices
In the global market, Comex Gold futures rose marginally to USD 2,679.50 per ounce.
Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, attributed the decline in gold prices to an increase in US bond yields and the US dollar. “The Federal Reserve may cut interest rates less this year, as last week’s strong job report supported a rally in US Treasury yields and the US dollar,” he said. The US 10-year treasury yield, which underpins the global cost of financing, reached a 14-month high on Monday.
Also Read: Today’s Gold and Silver Prices in Different Cities
“Additionally, risk-on sentiment shifted, with flows moving from safe-haven assets to riskier assets after news that members of Donald Trump’s economic team discussed a gradual approach to ramping up tariffs to avoid an inflation spike,” Gandhi added.
| City | 10 grams | 100 grams | 1 Kg |
|---|
| Chennai | ₹1,000 | ₹10,000 | ₹1,00,000 |
| Mumbai | ₹925 | ₹9,250 | ₹92,500 |
| Delhi | ₹925 | ₹9,250 | ₹92,500 |
| Kolkata | ₹925 | ₹9,250 | ₹92,500 |
| Bangalore | ₹925 | ₹9,250 | ₹92,500 |
| Hyderabad | ₹1,000 | ₹10,000 | ₹1,00,000 |
Investors Await Key Economic Data and Fed Speeches
Silver traded flat at USD 30.32 per ounce during Asian market hours.
Chintan Mehta, CEO of Abans Holdings, mentioned that markets are now awaiting the release of the US Core Producer Price Index (PPI) data on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday. Investors are also closely monitoring upcoming speeches by Federal Open Market Committee (FOMC) members later this week for further insights into the Fed’s policy direction.
