Mumbai: Gold and silver prices experienced an uptick on February 13 amid increased demand. In the city, the price of 24-karat gold climbed to Rs 1,58,390 per 10 grams, while 22-karat gold was available at Rs 1,45,190 per 10 grams. Silver also saw a rise, trading around Rs 2,90,000 per kilogram in the spot market.
On the Multi Commodity Exchange (MCX), gold prices increased by 1.04% to Rs 1,54,420 per 10 grams in early trading, and silver rose by 1.78% to Rs 2,40,655 per kilogram. These rates exclude GST and making charges.
Last month, gold reached an all-time high of over Rs 1,80,000, and silver hit a record Rs 4,20,000.
City-wise Gold Rates (Per 10 Gram) on February 13:
| City | 22K Gold | 24K Gold |
|---|---|---|
| Delhi | Rs 1,45,340 | Rs 1,58,540 |
| Jaipur | Rs 1,45,340 | Rs 1,58,540 |
| Ahmedabad | Rs 1,45,240 | Rs 1,58,440 |
| Pune | Rs 1,45,190 | Rs 1,58,390 |
| Mumbai | Rs 1,45,190 | Rs 1,58,390 |
| Hyderabad | Rs 1,45,190 | Rs 1,58,390 |
| Chennai | Rs 1,45,190 | Rs 1,58,390 |
| Bengaluru | Rs 1,45,190 | Rs 1,58,390 |
| Kolkata | Rs 1,45,190 | Rs 1,58,390 |
International Market Update
Global gold and silver prices rebounded on bargain-hunting after recent declines. Spot gold increased by 1% to $4,966.83 per ounce, recovering from a near one-week low below $5,000. US gold futures for April delivery gained 0.7% to $4,985.40 per ounce. Silver rose 2.1% to $76.76 per ounce after an 11% drop earlier in the week.
The US dollar remained steady, with currency fluctuations influencing metal prices globally. A stronger dollar typically makes gold and silver more expensive for international buyers.
Factors Influencing Gold Prices in India
Gold prices in India are primarily affected by international market rates, import duties, taxes, and exchange rate fluctuations. Given its cultural and financial significance, gold remains a preferred investment, especially during festivals and weddings. Market participants closely monitor these variables to navigate the constantly changing landscape of gold prices.