Kolkata: After small dips the price of gold and silver again reached record highs. The peak prices, quite naturally, increased bit of selling price on
both precious metals. In the Indian futures market on Tuesday morning, January 13, gold and silver prices displayed mixed trends. There was a bit of weak spot demand and there was also pressure on the Indian rupee against the US dollar. These twin factors led to a bit of profit-taking in gold. Silver prices also witnessed fluctuations.
A few minutes after 9 am on Jan 13 MCX, gold futures for Feb delivery was trading down 0.12% at Rs 1,41,863 per 10 grams. Silver futures for March delivery rose 0.20% to Rs 2,69,507 per kg. However, silver later suffered a small decline. However, geopolitical tensions and expectations of at least two interest rate cuts by the US Federal Reserve this year supported the prices of precious metals.
Silver surges to new high
Silver futures have skyrocketed since Friday, when it was at Rs 2,52,725 per kg. On Tuesday (Jan 13), it touched Rs 2,72,202 per kg, another record. In this instance too, analysts cited uncertainties around US Fed’s policy and escalating tensions in Iran pushing the prices through the roof. In the last two trading sessions, the white metal prices have jumped by Rs 19,477, or 7.7%.
Gold and silver in global and retail markets
While gold and silver prices displayed a bit of downward pressure in the Indian market, gold prices rose in the global markets. Spot gold was trading 1.91% higher and reached $4,595 per ounce. Spot silver also witnessed a 7.23% surge and touched $85.68 per ounce.
On Jan 13, in the retail market, the price of 22-carat gold touched Rs 12,587 per gram on CaratLane. According to bullion websites, 24-carat gold was available at Rs 142,370 per 10 grams on Jan 13, marking a small decline of Rs 170, while silver rose by Rs 1,500 to touch Rs 270,080 per kilogram. let’s check the city-wise price of gold.
Chennai
18 Carat: Rs 1,07,430.00
22 Carat: Rs 1,31,310.00
24 Carat: Rs 1,43,240.00
Delhi
18 Carat: Rs 1,06,822.50
22 Carat: Rs 1,30,580.00
24 Carat: Rs 1,42,430.00
Kolkata
18 Carat: Rs 1,06,702.50
22 Carat: Rs 1,30,420.00
24 Carat: Rs 1,42,270.00
Mumbai
18 Carat: Rs 1,06,717.50
22 Carat: Rs 1,30,440.00
24 Carat: Rs 1,42,290.00
Pune
18 Carat: Rs 1,06,732.50
22 Carat: Rs 1,30,460.00
24 Carat: Rs 1,42,310.00
(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.)
