Gold and silver prices in India witnessed a modest rise today, supported by steady buying during the ongoing wedding season. On the Multi Commodity Exchange of India (MCX), gold was trading at ₹1,241 per gram, up 0.79 per cent, while silver rose sharply by 2.70 per cent to ₹6,821 per 10 grams as of 9:12 am.
Despite the early gains in spot rates, MCX gold’s April futures contract slipped marginally by 0.2 per cent to ₹1,56,539 per 10 grams. Meanwhile, silver futures for March remained largely flat at ₹2,52,300 per kg, indicating stable investor sentiment in the derivatives segment.
In international markets, gold continued to trade with mild gains above $5,038 per ounce. The upward momentum is being supported by weaker retail sales data in the United States, which has strengthened expectations that the Federal Reserve may consider interest rate cuts in the coming months. Lower interest rates typically make non-yielding assets like gold more attractive. Silver also recorded slight gains globally, trading at $81.31 per ounce.
Gold Rates Across Major Indian Cities (10 grams)
Gold prices remained largely aligned across major metros, with minor variations:
- Delhi – 24K: ₹1,58,930 | 22K: ₹1,45,700
- Mumbai – 24K: ₹1,58,780 | 22K: ₹1,45,550
- Kolkata – 24K: ₹1,58,780 | 22K: ₹1,45,550
- Chennai – 24K: ₹1,59,060 | 22K: ₹1,45,800
- Lucknow – 24K: ₹1,58,930 | 22K: ₹1,45,700
- Noida – 24K: ₹1,58,930 | 22K: ₹1,45,700
- Gurugram – 24K: ₹1,58,930 | 22K: ₹1,45,700
- Ahmedabad – 24K: ₹1,58,830 | 22K: ₹1,45,600
- Bengaluru – 24K: ₹1,58,780 | 22K: ₹1,45,550
- Kerala – 24K: ₹1,58,780 | 22K: ₹1,45,550
- Hyderabad – 24K: ₹1,58,780 | 22K: ₹1,45,550
City-Wise Silver Prices (1 kg)
Silver prices showed some regional differences:
- Mumbai – ₹2,52,830
- Delhi – ₹2,52,390
- Chennai – ₹2,53,560
- Hyderabad – ₹2,53,230
- Kolkata – ₹2,89,900
- Bengaluru – ₹2,89,900
- Ahmedabad – ₹2,89,900
The rise in prices reflects a combination of domestic seasonal demand and global market cues. With the wedding season traditionally boosting jewellery purchases, retail demand remains firm. At the same time, global economic uncertainty and expectations of softer US monetary policy continue to lend support to precious metals.
Market participants will now closely watch international data releases and currency movements for further direction in gold and silver prices.
