Today’s Gold and Silver Prices in Different Cities
Gold prices surged by Rs 440 to reach Rs 79,390 per 10 grams on January 1, marking a strong start to the New Year. The precious metal had closed at Rs 78,950 per 10 grams on Tuesday, making this a notable increase.
Gold prices surged by Rs 440 to reach Rs 79,390 per 10 grams on January 1, marking a strong start to the New Year. The precious metal had closed at Rs 78,950 per 10 grams on Tuesday, making this a notable increase.
Rise in Gold of 99.5% Purity
Gold of 99.5% purity also saw a rise of Rs 440, trading at Rs 78,840 per 10 grams, up from Rs 78,400 in the previous session. Analysts attribute this uptick to fresh buying activity by stockists.
Also Read: Today’s Gold and Silver Prices in Different Cities
Expert Insights on Gold Price Trends
Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, stated, “Gold prices have been relatively stable this week due to the Christmas holiday season. Market participants are now looking for more fundamental cues to drive the next phase of market movements.”
Silver Prices Gain Momentum
In addition to gold, silver prices also saw a rise, jumping Rs 800 to Rs 90,500 per kg, compared to Rs 89,700 per kg in the previous trading session.
Futures Market Overview
In the futures market, gold contracts for February delivery closed flat at Rs 76,893 per 10 grams. On the other hand, silver contracts for March delivery slipped slightly by Rs 28, or 0.03%, to settle at Rs 87,550 per kg.
MCX Trading and Global Market Activity
The Multi Commodity Exchange (MCX) conducted trading during the first half of the day but closed for the evening session due to the New Year’s holiday. Overseas markets were also closed, contributing to a quiet trading environment.
Looking Ahead for Gold and Silver Prices
With gold and silver prices showing promising early trends, market observers will be watching closely for any further movement in the coming days.
