The price of 24-carat gold saw a modest increase on Tuesday morning, rising by Rs 10, with ten grams of the precious metal trading at Rs 80,080, according to the GoodReturns website. In parallel, silver prices also jumped by Rs 100, reaching Rs 94,600 per kilogram. These price hikes come amid shifting market trends and growing investor interest in precious metals.
Additionally, the price of 22-carat gold climbed by Rs 10, with ten grams of the yellow metal now priced at Rs 73,410. This uptick in gold prices is being watched closely by investors and consumers alike, as fluctuations in gold and silver prices often reflect broader economic trends and shifts in global market conditions.
Regional variations in gold prices were observed across India. The price of ten grams of 24-carat gold in major cities such as Mumbai, Kolkata, Chennai, and Hyderabad was consistent at Rs 80,080. In Delhi, however, the price of 24-carat gold stood slightly higher at Rs 80,230 per ten grams, marking a small regional premium. The prices of 22-carat gold showed a similar pattern, with ten grams priced at Rs 73,410 in cities like Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad. In contrast, Delhi recorded a slightly higher price of Rs 73,560 per ten grams.
Silver prices remained relatively stable in key Indian markets, with the price for one kilogram of silver in Delhi, Bengaluru, and Kolkata at Rs 94,600. However, silver prices in Chennai diverged, with one kilogram priced at Rs 1,02,100, reflecting regional differences in the metal’s pricing across the country.
The international market also experienced movement in precious metal prices, with significant developments influencing investor sentiment. US gold prices gained on Tuesday, driven by growing uncertainty surrounding the policies of the incoming Trump administration and speculation over potential shifts in US economic strategies. Investors are awaiting crucial US economic data for further cues regarding the Federal Reserve’s monetary policy, which has a direct impact on the price of gold and other precious metals.
In the global markets, spot gold rose by 0.3% to $2,671.13 per ounce as of 0101 GMT. This increase reflects investor demand amid the current market uncertainty. US gold futures followed a similar trend, rising by 0.4% to $2,688.40. Meanwhile, silver prices in the global market also saw a slight uptick, adding 0.2% to reach $29.67 per ounce, while palladium prices rose 0.3%, reaching $941.26 per ounce. In contrast, platinum experienced a minor decline, falling by 0.1% to $952.78 per ounce, as market focus shifted more toward gold and silver.
This rise in gold and silver prices underscores the ongoing uncertainty in global markets, with investors seeking safe-haven assets like gold in the face of political and economic instability. The fluctuating prices of precious metals are expected to continue as market participants assess the potential impacts of both domestic and international economic policies in the coming months.
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