Gold and Silver Rates Today, February 11: Gold and silver prices in India jumped on February 11 on higher demand. On the MCX, the price of gold rose 0.75% to trade at Rs 1,57,975 per 10 grams in the early
trade on Monday, while silver jumped 3.12% to Rs 2,60,433 per kg.
In the spot market, in Mumbai, the price of 24-carat gold rose to Rs 1,58,410 per 10 grams, while 22k gold was available at Rs 1,45,250 per 10 grams. These rates do not include GST and making charges. Silver also rose to around Rs 2,60,500 per kg in the spot market.
Last month, gold touched its all-time high of over Rs 1,80,000, while silver prices hit a record Rs 4,20,000.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On February 11?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,45,000 | Rs 1,58,560 |
| Jaipur | Rs 1,45,000 | Rs 1,58,560 |
| Ahmedabad | Rs 1,45,300 | Rs 1,58,460 |
| Pune | Rs 1,45,250 | Rs 1,58,410 |
| Mumbai | Rs 1,45,250 | Rs 1,58,410 |
| Hyderabad | Rs 1,45,250 | Rs 1,58,410 |
| Chennai | Rs 1,45,250 | Rs 1,58,410 |
| Bengaluru | Rs 1,45,250 | Rs 1,58,410 |
| Kolkata | Rs 1,45,250 | Rs 1,58,410 |
In the international market, gold and silver prices rose on Wednesday as US Treasury bond yields fell after data showed December retail sales growth stalled, signalling a softening economy ahead of key jobs data.
Spot gold was 0.5% higher at $5,049.59 per ounce by 0242 GMT. US gold futures for April delivery gained 0.9% to $5,073.40 per ounce. Spot silver was up 2.2% at $82.43/oz, after falling more than 3% in the previous session.
“Over the last couple of weeks, (precious metals) became very dislocated from fundamentals, so it pretty much decoupled from interest rate policy. Yields being lower are obviously supportive of gold today,” said Kyle Rodda, a senior market analyst at Capital.com, according to Reuters.
US yields fell on Tuesday after a raft of data suggested the economy may be softening, giving the US Federal Reserve more room to cut interest rates.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
