Gold and Silver Prices Decline in Early Trade
Gold price dips ₹10 to ₹1,50,920; silver falls ₹100, trading at ₹2,64,900
Business Standard
Image: Business Standard
In early trade on Monday, the price of 24-carat gold fell by ₹10 to ₹1,50,920 per 10 grams, while silver dropped by ₹100 to ₹2,64,900 per kilogram. This decline comes amid concerns over inflation affecting the US monetary policy outlook.
- 0124-carat gold price decreased by ₹10 to ₹1,50,920 per 10 grams.
- 02Silver price fell by ₹100, trading at ₹2,64,900 per kilogram.
- 0322-carat gold also saw a ₹10 drop, priced at ₹1,38,340 per 10 grams.
- 04Gold prices in Chennai are higher than in other major cities.
- 05US gold prices are impacted by inflation concerns.
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On Monday, the price of 24-carat gold decreased by ₹10, bringing it to ₹1,50,920 per 10 grams. The 22-carat gold also fell by ₹10, now priced at ₹1,38,340 per 10 grams. In contrast, silver saw a decline of ₹100, trading at ₹2,64,900 per kilogram. Prices vary across cities, with Chennai recording higher rates for both gold and silver. The decline in gold prices is attributed to inflation concerns affecting the US monetary policy. Spot gold prices in the US were down 0.3%, while US gold futures for June delivery fell 0.7%. Analysts suggest that gold and silver prices may remain range-bound due to ongoing geopolitical tensions and macroeconomic data.
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The drop in gold and silver prices may influence buying decisions for consumers and investors in India, particularly in the jewelry market.
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