Gold and Silver Prices Decline Amid Market Volatility
Gold price falls ₹10 to ₹1,53,540; silver falls ₹100, trading at ₹2,59,900
Business Standard
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Gold prices fell by ₹10 to ₹1,53,540 per 10 grams, while silver decreased by ₹100 to ₹2,59,900 per kilogram. This decline is attributed to rising oil prices and concerns over inflation and interest rates, impacting the global gold market.
- 0124-carat gold price is ₹1,53,540 per 10 grams.
- 02Silver price decreased to ₹2,59,900 per kilogram.
- 03Prices vary slightly across major Indian cities.
- 04US gold futures are on track for a weekly drop.
- 05Inflation fears are impacting gold and silver prices.
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In early trading on Friday, the price of 24-carat gold fell by ₹10, bringing it to ₹1,53,540 per ten grams. The price of 22-carat gold also decreased by ₹10, now selling at ₹1,40,740 per ten grams. Silver saw a decline of ₹100, with one kilogram priced at ₹2,59,900. Prices vary slightly across major cities in India, with Chennai reporting higher rates for both gold and silver. The decline in gold prices is linked to rising oil prices, which have raised concerns about inflation and prolonged interest rates, contributing to a drop in the global gold market. Spot gold was reported at $4,697 per ounce, down 2.6% for the week, while US gold futures fell to $4,712.50.
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The decline in gold and silver prices may affect investment decisions and purchasing power for consumers looking to buy precious metals.
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