Gold Prices Dip While Silver Sees Modest Increase
Gold price falls ₹10 to ₹1,50,370; silver rises ₹100, trading at ₹2,55,100
Business Standard
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On Saturday, the price of 24-carat gold decreased by ₹10, trading at ₹1,50,370 per 10 grams, while silver rose by ₹100 to ₹2,55,100 per kilogram. The decline in gold prices is attributed to rising oil prices and inflation concerns impacting global markets.
- 0124-carat gold price fell by ₹10 to ₹1,50,370 per 10 grams.
- 02Silver price increased by ₹100, reaching ₹2,55,100 per kilogram.
- 0322-carat gold also dropped by ₹10, priced at ₹1,37,840 per 10 grams.
- 04US gold prices fell over 1%, signaling a potential weekly loss.
- 05Inflation concerns driven by elevated oil prices are influencing market trends.
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The price of 24-carat gold fell by ₹10, bringing it to ₹1,50,370 per ten grams in early trading on Saturday. Similarly, the price of 22-carat gold also decreased by ₹10, now priced at ₹1,37,840 per ten grams. In contrast, silver saw a rise of ₹100, with one kilogram now costing ₹2,55,100. Regional variations in gold prices were noted, with Chennai recording the highest rates for both 24-carat and 22-carat gold. The decline in gold prices is linked to a drop in US gold prices, which fell more than 1% on Friday due to inflation concerns stemming from rising oil prices. This trend is expected to affect market dynamics, as central banks may hesitate to cut interest rates amid ongoing inflation fears.
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The fluctuation in gold and silver prices could influence buying decisions for consumers and investors in India, particularly in the jewelry market.
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