Gold and Silver Prices Analyzed
The prices of gold and silver changed slightly on Friday. 24-carat gold dropped by ₹10, with ten grams selling for ₹1,37,990. Silver also decreased by ₹100, so one kilogram cost ₹2,51,900.
Key Points
- Gold prices fell across major cities – Mumbai, Kolkata, and Chennai.
- 22-carat gold saw a small decrease in several key markets.
- Silver prices also declined, driven by market adjustments.
- US gold prices decreased due to dollar strength and rebalancing.
- Investors reacted to upcoming US jobs data, influencing buying/selling.
- Silver prices dropped significantly, impacting precious metal investors.
City-Specific Gold Prices (Friday)
Here’s how the prices looked in different cities: Mumbai and Kolkata saw 24-carat gold at ₹1,37,990 per 10 grams. Chennai had slightly higher prices, ranging from ₹1,39,080 to ₹1,27,490 for 10-gram units of 24- and 22-carat gold, respectively. Delhi’s 24-carat gold was priced at ₹1,38,140 per 10 grams, and 22-carat gold at ₹1,26,640.
Silver Prices
Silver prices also experienced a downward trend. In Delhi, Kolkata, and Mumbai, one kilogram of silver was traded at ₹2,51,900. Chennai had a slightly higher price of ₹2,71,900 for the same amount.
Global Market Activity
Globally, spot gold decreased by 0.4% to $4,458.10 per ounce. US gold futures for February delivery rose slightly to $4,467.60. Silver’s price also fell by 1.5% to $75.71 per ounce, while platinum decreased by 2.9% to $2,202.50 per ounce, reacting to market adjustments and the anticipated release of US non-farm payroll data.
Ultimately, gold and silver prices are influenced by global market forces and investor expectations.
