In major cities, the price of 24-carat gold stood at Rs 1,41,210 per 10 grams in Mumbai and Kolkata, while Chennai recorded a slightly higher rate of Rs 1,41,810
Representational Image
Gold prices edged lower in early trade on Monday, with the rate of 24-carat gold slipping by Rs 10 to Rs 1,41,210 per 10 grams. Silver prices also declined, falling by Rs 100 to Rs 2,50,900 per kilogram.
Similarly, 22-carat gold witnessed a marginal dip of Rs 10, with prices settling at Rs 1,29,440 per 10 grams.
In major cities, the price of 24-carat gold stood at Rs 1,41,210 per 10 grams in Mumbai and Kolkata, while Chennai recorded a slightly higher rate of Rs 1,41,810. In the national capital, Delhi, 24-carat gold was priced at Rs 1,41,360 per 10 grams.
For 22-carat gold, Mumbai, Kolkata, Bengaluru and Hyderabad reported uniform prices of Rs 1,29,440 per 10 grams, while Chennai saw rates at Rs 1,29,990. In Delhi, 22-carat gold was priced at Rs 1,29,590 per 10 grams.
Silver prices remained unchanged across several metros, with one kilogram priced at Rs 2,50,900 in Delhi, Mumbai and Kolkata. Chennai, however, continued to command a premium, with silver priced at Rs 2,73,900 per kilogram.
Silver retreats after record intraday high of over USD 84 per ounce
Meanwhile, silver prices in global markets retreated sharply after touching fresh intraday records of USD 84 per ounce in the spot market on Monday.
The white metal slipped as much as 8 per cent from its peak due to strong profit booking, snapping what could have been a seventh consecutive day of gains.
March silver futures on MCX was trading up 4.22 per cent intraday (as of 10.10 am), at Rs 2,49,282 per kilogram. Globally, the futures had surged to an intraday high of USD 82.67 an ounce in early trade, up 7 per cent on top of the 11 per cent jump on Friday — the strongest single‑day gain since 2008.
At those price levels, silver was extending a rally that has eclipsed even the historic supply squeeze seen in October.
Analysts said that thin holiday trading amplified the sharp moves as subdued volumes exaggerated price swings. Tighter inventories and liquidity that can evaporate quickly is supporting the rally.
Silver doesn't have a reserve like gold as the London gold market is underpinned by around USD 700 billion of bullion that can be lent out in the event of a liquidity squeeze, they reminded.
Even as silver is up about 180 per cent so far in 2025, three trading sessions remain, putting it on track for its best annual performance since 1979 when gains exceeded 200 per cent.
(With inputs from Agencies)
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
