Gold Prices Soar in Delhi & Indore: Silver Rises by ₹700 Today!

Baishakhi Mondal

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Gold Prices Soar in Delhi & Indore: Silver Rises by ₹700 Today!

Current Gold and Silver Prices in India

Gold Price Today: On Tuesday, gold prices witnessed an increase of Rs 600, reaching Rs 74,100 per 10 grams in the national capital, reflecting a surge in demand from jewellers. This marks a notable rise from the previous trading session’s closing price of Rs 73,500 per 10 grams for gold of 99.9 percent purity.

Silver Prices Update

According to the All India Sarafa Association, the price of silver also rose, climbing by Rs 700 to Rs 84,500 per kilogram, up from the last closing price of Rs 83,800 per kilogram. This upward trend in silver prices coincides with a similar inclination in gold values.

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Detailed Price Breakdown

Metal Purity Price (per unit) Previous Price (per unit)
Gold 99.9% Rs 74,100 per 10 grams Rs 73,500 per 10 grams
Gold 99.5% Rs 73,750 per 10 grams Rs 73,350 per 10 grams
Silver Standard Rs 84,500 per kg Rs 83,800 per kg
Silver Coin N/A Rs 9,000 per 10 grams N/A

Factors Influencing Gold Prices

Traders attribute the rise in gold and silver prices largely to increased domestic demand, particularly in the festive season when jewellery purchases typically spike. However, the potential impact of international trends and market sentiments has tempered expectations for significant price increases. Gold prices in international markets also remained robust, with Comex gold trading at $2,532.10 per ounce.

Expert Insights

Manish Sharma, AVP-Commodities & Currencies at Anand Rathi Shares & Stock Brokers, noted that gold prices are holding steady above the $2,500 mark as traders exercise caution ahead of the upcoming US inflation report. This report could potentially influence market behavior significantly, adding to the cautious outlook among investors.

Market Update from Indore

In Indore’s local bullion market, gold prices rose by Rs 200 per 10 grams, while silver prices also saw an increase of Rs 700 per kg. The current prices in Indore are:

  • Gold: Rs 73,600 per 10 grams
  • Silver: Rs 83,800 per kg
  • Silver Coin: Rs 900 per 10 grams

Conclusion

As we observe the evolving dynamics of the global market and their influence on domestic prices, interested consumers and investors should stay informed about market trends. This is especially true for gold and silver, which continue to be sought-after assets amid fluctuating economic conditions.

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