Gold prices on January 7: Check rates for Mumbai, Delhi and other cities

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Gold prices edged higher in early trade on Wednesday, while silver also recorded modest gains across major Indian cities.

According to market data, the price of 24-carat gold rose by Rs 10 to Rs 1,38,830 per 10 grams. Meanwhile, silver prices increased by Rs 100, with one kilogram trading at Rs 2,53,100.

The price of 22-carat gold also saw a marginal rise of Rs 10, with 10 grams of the yellow metal selling at Rs 1,27,260.

Across key markets, 10 grams of 24-carat gold was priced at Rs 1,38,830 in Mumbai and Kolkata, while Chennai saw higher rates at Rs 1,39,980. In the national capital, Delhi, the precious metal was trading at Rs 1,38,980 per 10 grams.

For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru, and Hyderabad stood at Rs 1,27,260 per 10 grams, while Chennai recorded a higher rate of Rs 1,28,310. In Delhi, 10 grams of 22-carat gold was priced at Rs 1,27,410.

Silver prices remained uniform in several cities, with one kilogram selling at Rs 2,53,100 in Delhi, Kolkata, and Mumbai. In Chennai, however, silver continued to command a premium, trading at Rs 2,71,100 per kilogram.

Stock markets decline in morning trade on geopolitical concerns, renewed tariff hike threats

Meanwhile, benchmark indices Sensex and Nifty drifted lower in early trade on Wednesday as geopolitical tensions and renewed concerns about potential US tariff hikes weighed on investor sentiments.

Sustained foreign fund outflows also dragged markets lower during the initial trade.

The 30-share BSE Sensex declined 169.64 points to 84,909.30 in early trade. The 50-share NSE Nifty went down 42.35 points to 26,128.90.

From the 30-Sensex firms, Tata Motors Passenger Vehicles, Bharti Airtel, HDFC Bank, Bajaj Finserv, Bajaj Finance, and Maruti were among the biggest laggards.

However, Titan, Infosys, HCL Tech, Tech Mahindra, and Reliance Industries were among the gainers.

Foreign institutional investors offloaded equities worth Rs 107.63 crore on Tuesday, according to exchange data. Domestic institutional investors, however, bought stocks worth Rs 1,749.35 crore.

In Asian markets, South Korea's Kospi index and Shanghai's SSE Composite index traded higher, while Japan's Nikkei 225 index and Hong Kong's Hang Seng index quoted lower. US markets ended higher on Tuesday. Brent crude, the global oil benchmark, declined 0.87 per cent to USD 60.17 per barrel.