Current Trends in Gold and Silver Prices
As of today, gold and silver prices have shown notable fluctuations in the market. On Tuesday, the price of 24 carat gold saw a slight dip, currently standing at Rs. 7740.3 per gram, which marks a decrease of Rs. 160.0. Meanwhile, 22 carat gold is priced at Rs. 7096.3 per gram, also reflecting a decline of Rs. 150.0.
Weekly and Monthly Changes
Over the past week, 24 carat gold has experienced a price change of -1.33%, while in the last month, the reduction amounts to -5.2%. Such fluctuations are vital for investors and consumers who are keen to understand the dynamics of the gold market better.
Current Silver Prices
The current price of silver is reported at Rs. 98000.0 per kilogram. This price point indicates the ongoing demand and supply dynamics, which are essential for both industrial use and investment.
Gold and Silver Prices Across Major Cities
| City | Gold Price (for 10 grams) | Silver Price (per kg) | Price Change (Gold) | Price Change (Silver) |
|---|---|---|---|---|
| Delhi | Rs. 77403.0 | Rs. 98000.0 | Down by Rs. 170.0 | Down by Rs. 100.0 |
| Chennai | Rs. 77251.0 | Rs. 103600.0 | Down by Rs. 170.0 | Down by Rs. 100.0 |
| Mumbai | Rs. 77257.0 | Rs. 97300.0 | Down by Rs. 170.0 | Down by Rs. 100.0 |
| Kolkata | Rs. 77255.0 | Rs. 98800.0 | Down by Rs. 170.0 | Down by Rs. 100.0 |
Futures Market Insights
Gold futures for February 2025 are currently trading at Rs. 76067.0 per 10 grams, with a slight uptick of 0.051%. On the other hand, silver futures for December 2024 are marked at Rs. 91033.0 per kilogram, showing an increase of 0.346%. These futures prices are critical indicators for traders who rely on expected price movements to make informed decisions.
Factors Influencing Price Fluctuations
The changes in gold and silver prices are influenced by a myriad of factors. Global demand for gold, exchange rate fluctuations, interest rates, and respective governmental regulations play significant roles. Additionally, geopolitical events and the overall health of the global economy can affect these prices substantially, particularly in relation to the strength of the US dollar against other currencies.
Understanding these trends is essential for both investors and consumers aiming to navigate the complexities of the precious metals market. Staying informed about market movements and economic indicators can lead to smarter investment decisions and a clearer understanding of intrinsic value.
