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.
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.
