Due to a weak US dollar and robust buying patterns in international markets, gold and silver prices set new peaks on Thursday and showed no indications of declining. Increased geopolitical tensions and ongoing trade related uncertainty are thought to have contributed to the increase in demand for precious metals as a safe haven.
Saumil Gandhi, Senior Analyst Commodities at HDFC Securities, told that “gold and silver continue to witness a strong and sustained rally, with bulls finding fresh catalysts almost every day to push prices higher.” According to the Bullions website, the gold rate in India on Wednesday is Rs 1,67,210 and the silver rate is Rs 3,87,640.
Gold Rates Today
The selling price of 10 grams of 24 carat gold in Mumbai, the nation’s financial center, is roughly Rs 1,66,900. Similar trends may be seen in Kolkata, where the gold rate is reportedly Rs 1,66,680. Both cities lag behind Delhi, the nation’s capital, where the current 24-carat rate is Rs 1,66,620.
The highest numbers in the nation are still found in the southern markets. With a peak pricing of Rs 1,67,390, Chennai tops the metro area, followed closely by Hyderabad and Bengaluru at Rs 1,67,170 and Rs 1,67,040, respectively, maintaining a clear price difference between the northern capital and the southern hubs.
Silver Rates Today
Due to its dual use in solar energy and AI data centers, as well as its limited physical supply, silver’s climb is further accelerated. The current state of silver prices in key Indian centers is as follows: The center of this price increase is Mumbai. The price per kg has increased to Rs 3,86,940. At Rs 3,86,270 per kg, silver prices in Delhi, the nation’s capital, are comparable to those in Mumbai.
Silver is currently trading for about Rs 3,88,060 per kg in Chennai and Rs 3,87,550 per kg in Hyderabad. Bengaluru comes in second, with prices at Rs 3,87,240 per kilogram. Silver is currently trading for about Rs 3,86,420 in Kolkata, which is also seeing an increase.
Gold Rates City Wise
The following rates are as per 10 grams of gold.
- Mumbai: Rs 1,66,900
- Delhi: Rs 1,66,620
- Bengaluru: Rs 1,67,040
- Chennai: Rs 1,67,390
- Hyderabad: Rs 1,67,170
- Kolkata: Rs 1,66,680
Silver Rates city wise
- Mumbai: Rs 3,86,940
- Delhi: Rs 3,86,270
- Bengaluru: Rs 3,87,240
- Chennai: Rs 3,88,060
- Hyderabad: Rs 3,87,550
- Kolkata: Rs 3,86,420
Gold in the International market
In terms of global prices, gold surged above $5,550 per ounce to reach a new all time high as President Donald Trump threatened to launch military strikes that would be far more severe than the attack he ordered in June if Iran did not reach a nuclear agreement with the United States.
Building on a 4.6% increase in the previous session, which is reportedly the largest one day rise since the peak of the Covid-19 outbreak in March 2020, bullion rose as high as 3.2%. According to Bloomberg, silver increased 1.2% to a record high.
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The momentum in both metals is unquestionably strong, but there is a technical warning flag, according to Aamir Makda, Commodity & Currency Analyst of Choice Broking, in a Mint story. “On all timeframes, the RSI (Relative Strength Index) is currently in overbought territory.
More significantly, despite the bullishness, a Daily RSI divergence has emerged a traditional “red flag” indicating that long positions should proceed cautiously. In the next session, we anticipate a rather bullish move in gold and silver,” Makda stated.
