Gold prices climbed across major Indian cities , while silver remained weak (Img: Pinterest)
New Delhi: Gold prices witnessed a fresh rise across major Indian cities on Tuesday, as festive demand picked up ahead of Dhanteras and Diwali. After a period of weakness, gold rates have started recovering, bringing some movement back to the domestic bullion market. However, silver prices continued to remain under pressure.
The increase in gold prices is largely attributed to stronger buying interest from jewellery retailers and consumers preparing for the festive season. With Dhanteras considered an auspicious occasion for purchasing gold and silver, market activity has gained momentum.
According to the rates available , 24-carat gold in Delhi was priced at Rs 1,39,530 per 10 grams, while 22-carat gold stood at Rs 1,27,910.
In Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru, 24-carat gold was trading at Rs 1,39,380 per 10 grams. The price of 22-carat gold in these cities was Rs 1,27,760.
Meanwhile, Ahmedabad and Bhopal recorded 24-carat gold prices of Rs 1,39,430 per 10 grams, while 22-carat gold was available at Rs 1,27,810.
Jaipur, Lucknow and Chandigarh followed Delhi's pricing pattern, with 24-carat gold at Rs 1,39,530 and 22-carat gold at Rs 1,27,910 per 10 grams.
Unlike gold, silver has failed to regain momentum. On November 3, silver was trading at Rs 1,99,900 per kilogram in the domestic market.
Also Read: Maruti Suzuki Records 25% Sales Growth in October; Exports Surge 59%
The metal has witnessed considerable volatility after touching a record high of Rs 4 lakh per kilogram in January this year. Its recent performance indicates continued weakness despite the ongoing festive season.
Market experts expect gold prices to trade within a limited range in the near term. Global market trends, investment demand and festive purchases will remain important factors influencing bullion prices. Buyers should monitor daily rate movements before making significant purchases.
