For 22-carat gold, the rate stood at Rs 1,19,710 in Mumbai, Kolkata, Bengaluru, and Hyderabad, and at Rs 1,20,610 in Chennai. In Delhi, the price was Rs 1,19,860 per 10 grams
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Gold prices in India saw a modest uptick in early trade on Thursday, with the rate of 24-carat gold rising by Rs 10 to Rs 1,30,590 per 10 grams. Silver prices also strengthened, gaining Rs 100 to trade at Rs 1,91,100 per kilogram.
The price of 22-carat gold rose by Rs 10 as well, with ten grams selling at Rs 1,19,710.
Across major cities, ten grams of 24-carat gold was priced at Rs 1,30,590 in Mumbai and Kolkata, Rs 1,31,580 in Chennai, and Rs 1,30,740 in Delhi.
For 22-carat gold, the rate stood at Rs 1,19,710 in Mumbai, Kolkata, Bengaluru, and Hyderabad, and at Rs 1,20,610 in Chennai. In Delhi, the price was Rs 1,19,860 per 10 grams.
Silver prices remained uniform at Rs 1,91,100 per kilogram in Delhi, Kolkata, and Mumbai, while Chennai recorded a higher rate of Rs 2,01,100 per kilogram.
Global Market Trends
In international markets, gold prices held firm above the USD 4,200 mark on Thursday, supported by weaker US private payrolls data that bolstered expectations of an interest rate cut at next week’s US Federal Reserve meeting.
Spot gold was steady at USD 4,207.56 per ounce (as of 0104 GMT), while US gold futures for December delivery inched up 0.1 percent to USD 4,237.50 per ounce.
Other precious metals were mixed: silver slipped 0.2 per cent to USD 58.39 per ounce, platinum declined 0.8 per cent to USD 1,657.70, and palladium fell 0.9 per cent to USD 1,446.50.
Domestic Market Movement
On Wednesday, gold prices in the national capital surged by Rs 670 to Rs 1,32,200 per 10 grams, driven by firm global cues and a sharp decline in the rupee, according to the All India Sarafa Association. The metal had closed at Rs 1,31,530 per 10 grams on Tuesday.
Traders attributed the rise to the rupee dropping to an all-time low against the US dollar, which made bullion more expensive. The currency breached the Rs 90-per-dollar mark for the first time, settling at 90.21 (provisional), down 25 paise from its previous close amid persistent foreign fund outflows and elevated crude oil prices.
Silver, however, ended its six-day winning streak, falling by Rs 460 to Rs 1,80,900 per kilogram (inclusive of taxes).
Globally, spot gold was trading slightly higher at USD 4,207.67 per ounce, while silver rose to USD 58.47 per ounce, briefly touching a record high of USD 58.94 earlier in the session.
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