Gold prices saw a modest rise in early trading on Wednesday, with the price of 24-carat gold increasing by Rs 10, bringing the price of ten grams to Rs 85,210, as per the GoodReturns website. In contrast, silver prices fell, with one kilogram of the metal priced at Rs 98,400, a decrease of Rs 100.
The price of 22-carat gold also saw a rise of Rs 10, with ten grams of the metal selling for Rs 78,110.
Gold prices in major cities remained consistent. In Mumbai, the price of ten grams of 24-carat gold matched the prices in Kolkata, Chennai, and Hyderabad at Rs 85,210. In Delhi, the price of ten grams of 24-carat gold was slightly higher at Rs 85,360. Similarly, the price of ten grams of 22-carat gold in Mumbai was aligned with other cities, including Kolkata, Bengaluru, Chennai, and Hyderabad, at Rs 78,110. In Delhi, the price of 22-carat gold stood at Rs 78,260.
On the global front, US gold prices hit a record high on Wednesday, driven by safe-haven demand after China’s response to tariffs imposed by the United States. Spot gold rose by 0.2% to $2,847.33 per ounce, after briefly reaching an all-time high of $2,848.94. US gold futures held steady at $2,876.10. Spot silver also gained 0.2%, reaching $32.15 per ounce, while platinum increased by 0.3% to $966.50. Palladium, however, remained unchanged at $990.75.
In India, the price of one kilogram of silver was consistent across Delhi, Bengaluru, Kolkata, and Mumbai at Rs 99,400, while in Chennai, silver was priced at Rs 1,05,900.
Looking ahead, US gold prices remained stable in early Asian trading on Thursday, as the Federal Reserve’s decision to keep interest rates steady provided little clarity on the direction of US monetary policy for the rest of the year.
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