Kolkata: MCX is closed today on account of Bakra Eid. However, gold and silver prices remain in focus of many in the retail and international markets.
While prices remained firm in the domestic retail market, gold and silver appeared to trade under pressure in the international market. In the international market, gold was seen trading at about $4,370 per ounce, while silver was hovering around $72 per ounce. The prices of gold and silver are significantly influenced by both global and domestic factors in India. These are interest rates mostly by the US Fed, value of the dollar against major currencies of the world, inflation in major economies, global level of uncertainty. The typical factors in the Indian market are the exchange rate of the dollar and rupee, customs tariff on gold and silver and the season of demand since gold demand typically shoots up during festive season (Diwali, Dhanteras etc) and the wedding season.
The retail market in India witnessed upward pressure in both gold and silver prices today. The rate for gold has reached ₹1,56,430, while the price of silver has been recorded at ₹2,66,690.
Gold rates in major cities (1 gm)
Chennai: ₹15,981 (24 Carat Gold), ₹14,649, (22 Carat Gold), ₹12,289 (18 Carat Gold)
Mumbai: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Delhi: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Kolkata: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Bengaluru: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Hyderabad: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Kerala: ₹15,606 (24 Carat Gold) ₹14,305, ₹11,704, (22 Carat Gold), (18 Carat Gold)
Pune: ₹15,606 (24 Carat Gold) ₹14,305, ₹11,704, (22 Carat Gold), (18 Carat Gold)
Vadodara: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Ahmedabad: ₹15,606 (24 Carat Gold), ₹14,305, (22 Carat Gold), ₹11,704 (18 Carat Gold)
Source – Good Returns
Silver rates in major cities (1 kg)
Chennai: ₹2,89,900
Mumbai: ₹2,75,000
Delhi: ₹2,75,000
Kolkata: ₹2,75,000
Bengaluru: ₹2,75,000
Hyderabad: ₹2,75,000
Kerala: ₹2,75,000
Pune: ₹2,75,000
Vadodara: ₹2,75,000
Ahmedabad: ₹2,75,000
Source – Good Returns
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, InvITs and any form of alternative investment instruments and crypto assets.)
