Gold and Silver Prices Slip Slightly After Recent Rally; Check Latest City-Wise Rates
Gold and silver prices saw a mild decline on Friday as global signals turned weak and traders opted for profit-booking after a strong rally earlier in the week. After touching three week highs, bullion witnessed some cooling as investors locked in gains. A firm US dollar further reduced the appeal of precious metals in the international market, putting additional pressure on prices.
At the national level, gold is currently trading at Rs 1,60,440 per 10 grams, while silver is priced at Rs 2,61,050 per kilogram. Though the fall is marginal, the movement reflects the cautious mood in the bullion market.
Global Trend Impacting Domestic Prices
In the international market, silver dropped 2.15 percent to $87.28 per ounce. Gold, on the other hand, remained relatively stable and was trading slightly higher at $5,176.21 per ounce. Even small fluctuations in global bullion prices and currency strength, especially the US dollar, tend to influence Indian rates significantly.
When the dollar strengthens, gold and silver become more expensive for holders of other currencies. This often results in softer demand globally, which then reflects in domestic pricing.
Southern cities continue to quote slightly higher prices compared to the national capital. Chennai currently leads among metros, while Delhi remains among the relatively lower priced markets today.
Silver Price Today in Major Cities
Here are the latest silver rates per kilogram:
Chennai is currently quoting the highest silver price among major hubs. Most metro cities are trading comfortably above Rs 2.60 lakh per kg, reflecting strong underlying demand despite the minor correction.
Whenever gold and silver rise sharply within a short span, traders often sell to secure profits. This natural market correction can temporarily bring prices down. However, long term trends still depend on global inflation data, interest rate decisions, geopolitical tensions and currency movement.
What Should Buyers Do?
For jewellery buyers and investors, slight corrections often present short term buying opportunities. However, bullion markets remain volatile and sensitive to international developments. Those planning large purchases may want to monitor global trends and currency movement closely before making decisions.
Gold and silver continue to remain popular as hedge assets, especially during uncertain economic conditions. Even minor price movements can influence investment sentiment in the coming days.
Disclaimer: Gold and silver prices mentioned above are indicative retail rates and may vary depending on taxes, making charges and local market conditions. Readers are advised to check with their local jeweller or financial advisor before making any purchase or investment decision.
At the national level, gold is currently trading at Rs 1,60,440 per 10 grams, while silver is priced at Rs 2,61,050 per kilogram. Though the fall is marginal, the movement reflects the cautious mood in the bullion market.
Global Trend Impacting Domestic Prices
In the international market, silver dropped 2.15 percent to $87.28 per ounce. Gold, on the other hand, remained relatively stable and was trading slightly higher at $5,176.21 per ounce. Even small fluctuations in global bullion prices and currency strength, especially the US dollar, tend to influence Indian rates significantly.When the dollar strengthens, gold and silver become more expensive for holders of other currencies. This often results in softer demand globally, which then reflects in domestic pricing.
Gold Price Today in Major Cities
Here are the latest gold rates per 10 grams across key Indian cities:- Mumbai: Rs 1,60,150
- Delhi: Rs 1,59,870
- Bengaluru: Rs 1,60,270
- Chennai: Rs 1,60,610
- Hyderabad: Rs 1,60,400
- Kolkata: Rs 1,59,940
Southern cities continue to quote slightly higher prices compared to the national capital. Chennai currently leads among metros, while Delhi remains among the relatively lower priced markets today.
Silver Price Today in Major Cities
Here are the latest silver rates per kilogram: - Mumbai: Rs 2,60,580
- Delhi: Rs 2,60,130
- Bengaluru: Rs 2,60,780
- Chennai: Rs 2,61,340
- Hyderabad: Rs 2,60,990
- Kolkata: Rs 2,60,230
Chennai is currently quoting the highest silver price among major hubs. Most metro cities are trading comfortably above Rs 2.60 lakh per kg, reflecting strong underlying demand despite the minor correction.
Why Prices Are Cooling
The current dip is largely attributed to two main factors:- Profit-booking after recent highs
- Weak global cues and a strong US dollar
Whenever gold and silver rise sharply within a short span, traders often sell to secure profits. This natural market correction can temporarily bring prices down. However, long term trends still depend on global inflation data, interest rate decisions, geopolitical tensions and currency movement.
What Should Buyers Do?
For jewellery buyers and investors, slight corrections often present short term buying opportunities. However, bullion markets remain volatile and sensitive to international developments. Those planning large purchases may want to monitor global trends and currency movement closely before making decisions. Gold and silver continue to remain popular as hedge assets, especially during uncertain economic conditions. Even minor price movements can influence investment sentiment in the coming days.
Disclaimer: Gold and silver prices mentioned above are indicative retail rates and may vary depending on taxes, making charges and local market conditions. Readers are advised to check with their local jeweller or financial advisor before making any purchase or investment decision.
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