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Gold and silver prices slip in early trade (Internet)
New Delhi: On Tuesday gold and silver prices witnessed a mild decline in early trade on the Multi Commodity Exchange (MCX), primarily due to profit-booking after recent gains.
Gold futures for June delivery slipped by Rs 350, trading at Rs 1,49,625 per 10 grams. Similarly, silver futures for May delivery dropped sharply by around Rs 1,600, settling at Rs 2,31,800 per kilogram. Despite the dip in futures, retail market prices remain elevated across major Indian cities.
Current Gold and Silver Rates in India
As per market tracking data, the price of 24-carat gold stands at approximately Rs 14,984 per gram. Silver continues to hover around Rs 2,50,000 per kilogram in the physical market.
City-wise Snapshot
Delhi
Silver: Rs 2,500 (10 grams), Rs 25,000 (100 grams), Rs 2,50,000 (1 kg)
Patna
24K Gold: Rs 14,989 per gram
22K Gold: Rs 13,740 per gram
18K Gold: Rs 11,243 per gram
Prices in other metro cities like Mumbai, Chennai, and Hyderabad remain broadly in line with national trends, with slight variations due to local demand and taxes.
What’s Driving the Price Movement?
Gold and silver prices continue to fluctuate due to multiple global and domestic factors:
While today’s dip reflects short-term profit-booking, the broader outlook for gold and silver remains supported by global uncertainties and inflationary pressures. Analysts suggest that volatility may persist in the near term, making it crucial for investors to track market cues closely.
Key Takeaway
Even with minor corrections, gold and silver prices are holding near record levels, indicating sustained investor interest. Buyers may look for dips as potential entry opportunities, while traders remain cautious amid ongoing market fluctuations.
