In the early hours of Thursday’s trade, gold prices saw a slight uptick, with 24-carat gold rising by Rs 10 to Rs 78,010 per 10 grams, according to data from the GoodReturns website. On the other hand, silver prices experienced a downturn, falling by Rs 100, with one kilogram of the precious metal priced at Rs 90,400.
The price of 22-carat gold also saw a modest increase of Rs 10, bringing its value to Rs 71,510 per 10 grams. This price shift reflects a consistent trend across various regions in India, where the price of 24-carat gold remained stable at Rs 78,010 per 10 grams in major cities such as Mumbai, Kolkata, Chennai, and Hyderabad. In contrast, Delhi saw a slight premium, with the price of 24-carat gold listed at Rs 78,160.
For 22-carat gold, prices were consistent across Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad at Rs 71,510 per 10 grams. In Delhi, the price for 22-carat gold was marginally higher at Rs 71,660 per 10 grams.
When it comes to silver, the price remained uniform across major cities like Delhi, Bengaluru, and Kolkata, all reporting the price of one kilogram of silver at Rs 90,400. However, the price of silver in Chennai stood out, reaching Rs 97,900 per kilogram, highlighting a regional variation in the metal’s pricing.
Global Gold Market Trends
Globally, gold prices have kicked off the New Year on a positive note, building on a strong performance in 2024. The precious metal’s price movements come as market participants closely monitor developments related to U.S. economic policy, particularly the outlook on interest rates from the U.S. Federal Reserve and potential shifts in trade policies under President-elect Donald Trump. Investors are awaiting further clues on how these factors might influence the global financial landscape in the coming months.
As of 0014 GMT on Thursday, spot gold was trading steady at $2,625.48 per ounce, reflecting a cautious yet optimistic sentiment in the market. The stability in gold’s price comes amid broader market speculation over the direction of U.S. monetary policy, which has remained a key factor influencing global commodities and financial markets.
Alongside gold, other precious metals showed mixed performance. Spot silver saw a 0.4% rise, reaching $28.98 per ounce, reflecting steady demand. Palladium also saw gains, rising by 0.6% to $909.00 per ounce. Platinum, however, saw a slight decline of 0.1%, trading at $909.32 per ounce, indicating a more subdued sentiment in its market.
Market Sentiment and Forecast
The global precious metals market remains in a state of flux as investors weigh the potential impacts of U.S. policy changes, particularly with regard to interest rates and trade tariffs. While gold’s position remains relatively strong, the performance of silver and other metals like palladium and platinum is more varied, reflecting different demand dynamics and investor sentiment.
With the start of the year offering little immediate clarity on U.S. policy shifts, it is expected that market participants will remain cautious, awaiting clearer indications from the Federal Reserve regarding the direction of interest rates. The upcoming months will likely see heightened volatility as market players adjust their strategies in response to both economic indicators and geopolitical developments.
As for the Indian market, the trend in gold prices remains resilient, though fluctuating demand and economic conditions may influence pricing over time. The differences in silver prices across various regions in India also highlight the role of local demand factors in shaping market trends.
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