Gold and Silver Prices Show Regional Variation
Gold prices remained stable across India on Tuesday, with slight regional differences in pricing. The cost of 24-carat gold settled at ₹7,893.3 per gram, while 22-carat gold was priced at ₹7,237.3 per gram. Over the past week, 24-carat gold prices rose by 1.24%, although prices experienced a 2.14% decrease over the last month. Silver traded at ₹96,100 per kg on the national level. Notable regional prices for gold were recorded in Delhi at ₹78,933 per 10 grams, Chennai at ₹78,781, Mumbai at ₹78,787, and Kolkata at ₹78,785 per 10 grams. Silver prices also showed some variation, with rates in Delhi at ₹96,100 per kg, Chennai at ₹104,700, Mumbai at ₹95,400, and Kolkata at ₹96,900.
Daily and Weekly Price Movements for Gold and Silver
In Delhi, gold experienced a slight drop from ₹79,533 on Monday to ₹78,933 on Tuesday, and a more significant decline from last week’s price of ₹80,523. Similarly, silver prices in Delhi saw a decline from ₹97,100 on Monday and from ₹99,100 the previous week to the current rate of ₹96,100. Chennai saw gold prices dip from ₹79,381 on Monday to ₹78,781 on Tuesday, with a weekly decline from ₹80,371. Silver prices in the city also fell from ₹105,700 on Monday and ₹107,700 last week to ₹104,700. Mumbai’s gold price followed a similar trend, dropping from ₹79,387 on Monday to ₹78,787 on Tuesday and down from ₹80,377 last week. In Kolkata, the Tuesday price for gold was ₹78,785 per 10 grams, compared to ₹79,385 on Monday and ₹80,375 last week, with silver prices similarly declining from ₹97,900 on Monday and ₹99,900 the prior week to ₹96,900.
Market Factors Influencing Gold and Silver Prices
On the Multi Commodity Exchange (MCX), February 2025 gold futures traded at ₹76,025 per 10 grams, reflecting a slight decrease of 0.021% at the time of publication. In contrast, silver May 2025 futures saw a modest uptick of 0.14%, trading at ₹93,276 per kg. Fluctuations in gold and silver prices are attributed to a range of factors including shifts in international demand, currency value changes, interest rates, and domestic government policies. Market experts and jewelers indicate that factors like the global economic climate, changes in the US dollar value, and international events play crucial roles in the Indian precious metals market. The interplay of these elements continues to influence price movements, making gold and silver prices dynamic and subject to change based on evolving global and local conditions.
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