Today’s Gold and Silver Prices in Different Cities
Gold prices saw a significant rise of Rs 330, reaching Rs 79,720 per 10 grams in the national capital on Thursday.
New Delhi: Gold prices saw a significant rise of Rs 330, reaching Rs 79,720 per 10 grams in the national capital on Thursday.
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The increase was attributed to persistent buying by jewelers and retailers, according to the All-India Sarafa Association. On Wednesday, gold had closed at Rs 79,390 per 10 grams.
Silver also followed the upward trend, climbing Rs 130 to Rs 90,630 per 10 grams, compared to its previous session’s close of Rs 90,500 per 10 grams.
Also Read: Today’s Gold and Silver Prices in Different Cities
Gold and Silver Purity Prices
Gold of 99.5% purity also surged by Rs 330, hitting Rs 79,170 per 10 grams, up from Rs 78,840 in the prior session. Silver futures on the Multi Commodity Exchange (MCX) jumped by Rs 859, or 0.98%, reaching Rs 88,437 per kilogram.
International Bullion Market Rally
The rally in gold prices in international markets played a key role in driving domestic bullion rates. Comex gold futures gained USD 8.50 per ounce (0.32%), trading at USD 2,649.50 per ounce, while silver futures rose 1.62% in Asian market hours to USD 29.72 per ounce.
“Spot gold started 2025 on a positive note, continuing the bullish momentum from the previous year,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
Domestic Futures and Rupee Impact
In MCX futures trading, gold contracts for February delivery rose by Rs 205, or 0.27%, to Rs 77,098 per 10 grams.
“Gold’s rally is supported by Comex gold sustaining above USD 2,640. Additionally, the rupee weakness further strengthened the bullish sentiment,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities.
Outlook for Gold and Silver in 2025
Renisha Chainani, Head of Research at Augmont – Gold for All, provided an optimistic outlook for gold and silver amid continued geopolitical and macroeconomic uncertainties.
“Gold and silver are expected to remain appealing as hedges against inflation. Investors may adopt a ‘buy on dips’ strategy, with periodic fluctuations anticipated. Over the next 5-6 months, prices are expected to touch USD 3,000 (Rs 85,000) for gold and USD 38 (Rs 1,15,000) for silver,” Chainani added.
Factors to Watch
Market participants are now closely monitoring major US macroeconomic data, including jobless claims and manufacturing PMI reports, expected later this week. These factors could bring additional volatility to the bullion market.
