Current Trends in Gold and Silver Prices
In recent trading sessions, gold and silver prices have shown some fluctuations, attracting the attention of investors and jewelers alike. Today, gold prices posted a moderate increase, indicating market responsiveness to various economic factors. The price of 24-carat gold has risen to Rs. 7763.3 per gram, reflecting an increase of Rs. 560.0. Meanwhile, the price of 22-carat gold is now Rs. 7118.3 per gram, up by Rs. 520.0.
Weekly and Monthly Price Performance
Despite today’s gains, the price change over the past week for 24-carat gold stands at a decline of 0.28%. Over the last month, gold prices have decreased by 6.16%, highlighting ongoing market volatility. Investors remain attentive to these trends as they seek opportunities for profit. On the silver front, the current market price is Rs. 98000.0 per kilogram.
City-wise Gold Prices
| City | Gold Price (10 grams) | Price Change (Yesterday) | Price Change (Last Week) |
|---|---|---|---|
| Delhi | ₹77633.0 | ₹77403.0 | ₹77183.0 |
| Chennai | ₹77481.0 | ₹77251.0 | ₹77031.0 |
| Mumbai | ₹77487.0 | ₹77257.0 | ₹77037.0 |
| Kolkata | ₹77485.0 | ₹77255.0 | ₹77035.0 |
City-wise Silver Prices
| City | Silver Price (per kg) | Price Change (Yesterday) | Price Change (Last Week) |
|---|---|---|---|
| Delhi | ₹98000.0 | ₹98000.0 | ₹98000.0 |
| Chennai | ₹103600.0 | ₹103600.0 | ₹103600.0 |
| Mumbai | ₹97300.0 | ₹97300.0 | ₹97300.0 |
| Kolkata | ₹98800.0 | ₹98800.0 | ₹98800.0 |
Future Market Outlook
As of now, the December 2024 MCX futures for gold are trading at Rs. 76190.0 per 10 grams, reflecting a slight decrease of 0.262%. Conversely, November 2024 MCX futures for silver have risen to Rs. 6565.0 per kilogram, marking an increase of 2.203%. These fluctuations warrant close monitoring as they could forecast potential investment opportunities.
Factors Influencing Gold and Silver Prices
The prices of gold and silver are significantly influenced by various economic factors. Global demand, currency fluctuations, prevailing interest rates, and regulatory changes regarding gold trade play critical roles in shaping these market conditions. Moreover, global economic events and the strength of the US dollar against other currencies also impact prices in the Indian market. Jewelers and investors alike must stay informed to navigate these complex dynamics effectively.
