Gold and Silver Prices Decline in Early Trading
Gold price falls ₹10 to ₹1,56,210; silver down ₹100, trading at ₹2,79,900
Image: Business Standard
On Tuesday, the price of 24-carat gold decreased by ₹10 to ₹1,56,210 per 10 grams, while silver fell by ₹100 to ₹2,79,900 per kilogram. Prices varied slightly across major Indian cities, with 22-carat gold also seeing a minor drop.
- 0124-carat gold is priced at ₹1,56,210 per 10 grams in major cities like Mumbai and Kolkata.
- 0222-carat gold is selling for ₹1,43,190 per 10 grams in Mumbai and Kolkata.
- 03Silver is priced at ₹2,79,900 per kilogram in Delhi, Kolkata, and Mumbai, while it is ₹2,89,900 in Chennai.
- 04US gold prices remained stable amid geopolitical tensions and inflation concerns, with spot gold at $4,484.49 per ounce.
- 05SPDR Gold Trust reported a 0.3% decrease in its holdings to 938.03 metric tons.
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The price of 24-carat gold witnessed a slight decline of ₹10, trading at ₹1,56,210 for ten grams in early trading on Tuesday. In parallel, silver prices dropped by ₹100, with one kilogram now priced at ₹2,79,900. The price for 22-carat gold also decreased by ₹10, reaching ₹1,43,190 per ten grams. Regional variations were noted, with 24-carat gold priced at ₹1,58,170 in Chennai and ₹1,56,360 in Delhi. The silver price in Chennai was higher at ₹2,89,900 per kilogram. On the international front, US gold prices remained steady as investors awaited developments regarding US-Iran negotiations and the ongoing ceasefire between Hezbollah and Israel. Spot gold was reported at $4,484.49 per ounce, while US gold futures increased by 0.2% to $4,514.30. Additionally, the SPDR Gold Trust, the largest gold-backed exchange-traded fund, indicated a 0.3% decrease in holdings to 938.03 metric tons as of Friday.
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The decline in gold and silver prices may influence consumer purchasing decisions and investment strategies in the precious metals market.
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