Across major cities, 24-carat gold was priced at Rs 1,49,790 per 10 grams in Mumbai and Kolkata, while Chennai recorded a higher rate of Rs 1,51,650. In Delhi, the price stood at Rs 1,49,920 per 10 grams
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Gold prices edged higher in early trade on Wednesday, with 24-carat gold rising by Rs 10 to trade at Rs 1,49,790 per 10 grams, according to official data. Silver prices also saw an uptick, gaining Rs 100 to sell at Rs 3,20,100 per kilogram.
The price of 22-carat gold increased by Rs 10 as well, with 10 grams of the yellow metal quoted at Rs 1,37,310.
Across major cities, 24-carat gold was priced at Rs 1,49,790 per 10 grams in Mumbai and Kolkata, while Chennai recorded a higher rate of Rs 1,51,650. In Delhi, the price stood at Rs 1,49,920 per 10 grams.
For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru and Hyderabad were uniform at Rs 1,37,310 per 10 grams, while Chennai reported a higher price of Rs 1,39,010. In the national capital, 10 grams of 22-carat gold was priced at Rs 1,37,460.
Silver prices remained steady across most metros, with one kilogram of the metal selling at Rs 3,20,100 in Delhi, Mumbai and Kolkata. Chennai, however, recorded a higher silver price at Rs 3,40,100 per kilogram.
Gold prices jump over 4 pc to hit record high
Meanwhile, Gold futures on the MCX surged over Rs 4,100 or 4 per cent on Wednesday to a fresh record high, as investors jumped to buy safe haven assets amid fears of a widening US-EU trade conflict and a softer dollar.
MCX gold February futures rose 4.25 per cent to Rs 1,56,970 per 10 grams. Meanwhile, MCX silver March futures rose 2.71 per cent to Rs 3,32,451 per kg.
International markets also saw new peaks as US gold futures jumped to USD 4,849 per troy ounce on COMEX. COMEX silver consolidated in the USD 92.5–USD 95.7 range.
The rally followed reports that the United States plans tariffs on eight European countries from February 1 and could raise duties to 25 per cent in June. European countries are reportedly considering anti-coercive measures, using trade defence mechanisms designed to counter economic pressure from foreign governments.
The medium-to-long-term outlook of silver remains exceptionally bullish, with scope toward USD 110–USD 120 in 2026 under sustained supply constraints and industrial demand, according to analysts.
In MCX silver futures, immediate upside targets are placed at Rs 3,30,000–Rs 3,32,000, with scope to extend toward Rs 3,35,000–Rs 3,50,000 over the coming months, they said.
(With inputs from Agencies)
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