Gold prices in India inched up marginally as bullion markets remained steady near record levels amid global uncertainty. Silver also posted a slight rise, supported by strong industrial demand. Experts say currency movements, interest-rate expectations, and geopolitical tensions continue to influence prices.
Gold Holds Strong, Silver Sees Mild Uptick on Industrial Demand
New Delhi: Gold prices remained near record levels amid stability in global markets and a cautious investment environment. According to the latest retail rates, 24-carat gold is trading at ₹1,57,160 per 10 grams, slightly higher than Friday's ₹1,57,150. Meanwhile, 22-carat gold reached ₹1,44,060 per 10 grams, and 18-carat gold reached around ₹1,17,870 per 10 grams.
According to experts, this increase does not indicate a major rally, but rather reflects stability in the market. Investors are currently monitoring global cues, dollar movements, and geopolitical developments.
Gold gains on weak Dollar, Silver shines at record levels; Check city-wise price here
Silver prices also saw a slight rise, along with gold. Silver is selling at ₹3,401 per 10 grams and ₹3,40,100 per kilogram, up ₹100 from the previous session. Investor interest in silver remains high, as its use is increasing not only in jewelry but also in the industrial sector, renewable energy, electronics, and the EV (electric vehicle) industry.
Gold and silver prices in India are influenced by several domestic and international factors. Fluctuations in international bullion markets directly impact Indian prices. Furthermore, the exchange rate between the rupee and the dollar also plays a significant role. A weak rupee makes imports more expensive, leading to higher gold and silver prices.
The market also closely monitors the policies of global central banks, especially the US Federal Reserve, regarding interest rates and inflation. Geopolitical tensions also support demand for gold as a safe-haven investment.
In Delhi and Jaipur, 24-carat gold is trading at ₹1,57,310 per 10 grams, while in Mumbai, Kolkata, Bengaluru, and Hyderabad, it is trading at ₹1,57,160. Prices are relatively higher in Chennai, where 24-carat gold has reached ₹1,58,740 per 10 grams.
According to experts silver has seen a sharp increase of nearly 200% in the past year, while gold has risen by approximately 80%. This has significantly reduced the gold-silver ratio. The brokerage believes that gold now appears comparatively more attractive and may offer better risk-adjusted returns in the future.
Experts are advising investors to make purchases in stages and monitor global cues, rather than making lump-sum investments at current high levels.
