Gold and Silver Price Today: Gold and silver prices remained volatile on Friday morning, ahead of the annual January rebalancing of the Bloomberg Commodity Index (BCOM).
On Multi-Commodity Exchange (MCX,
gold futures with expiry on February 05 inched up 0.17 per cent to Rs 1,37,972 per 10 grams. Meanwhile, silver futures with expiry on March 05 rose 0.71 per cent to Rs 2,45,050 per kg.
Silver price seems under pressure post the record-breaking performance in recent times.
At the international spot market, silver came down to $76 per ounce after touching $82 per ounce. Meanwhile, gold hovered around $4,465 per ounce.
In India, silver fell Rs 3000 to trade at Rs 2,49,000 per kg.
Bloomberg Commodity Index (BCOM) rebalancing is a periodic process where the index adjusts the weight of commodities like energy, metals, and agriculture to reflect changes in global production, liquidity, and market trends. This is usually done annually and can lead to buying or selling pressure in specific commodities as funds tracking the index realign their portfolios.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On January 9?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,27,300 | Rs 1,38,860 |
| Jaipur | Rs 1,27,300 | Rs 1,38,860 |
| Ahmedabad | Rs 1,27,200 | Rs 1,38,760 |
| Pune | Rs 1,27,200 | Rs 1,38,760 |
| Mumbai | Rs 1,27,150 | Rs 1,38,710 |
| Hyderabad | Rs 1,27,150 | Rs 1,38,710 |
| Chennai | Rs 1,27,150 | Rs 1,38,710 |
| Bengaluru | Rs 1,27,150 | Rs 1,38,710 |
| Kolkata | Rs 1,27,150 | Rs 1,38,710 |
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.
