Gold Prices Edge Higher in India, Silver Slips; Global Rally Nears Record Levels
Gold prices in India recorded a marginal rise today, while silver witnessed a decline, reflecting contrasting movements in the precious metals market.
Domestic Market Update
24-Carat Gold: Prices increased by ₹10, with ten grams trading at ₹1,07,630 in Mumbai, Kolkata, Chennai, and Bengaluru. In Delhi, the same quantity stood slightly higher at ₹1,07,780.
22-Carat Gold: Also saw a rise of ₹10, reaching ₹98,660 per ten grams across major cities like Mumbai, Kolkata, Chennai, Hyderabad, and Bengaluru. In Delhi, the rate stood at ₹98,810.
Silver: Prices dipped by ₹100 per kilogram, quoted at ₹1,25,900 in Delhi, Mumbai, and Kolkata. However, Chennai remained an outlier with silver priced significantly higher at ₹1,35,900 per kilogram.
International Precious Metals
Spot Gold: Jumped 1.4% to $3,596.55 per ounce, inching closer to its all-time high of $3,599.89.
US Gold Futures: For December delivery, settled 1.3% higher at $3,653.30 per ounce.
Silver: Rose 0.8% to $40.98 per ounce, extending gains for the third straight week.
Platinum: Gained 0.5% to $1,373.92, while Palladium slipped 1.5% to $1,110.32.
Market Drivers
Analysts attribute gold’s rally to:
- Weak US jobs data fueling expectations of Federal Reserve rate cuts.
- Sustained central bank gold purchases.
- A weaker US dollar.
- Geopolitical and economic uncertainties pushing investors toward safe-haven assets.
With a 37% surge in 2025 so far, following a 27% rise in 2024, gold continues to strengthen as one of the top-performing global assets.
