Gold prices experienced a decline today, with 24-karat gold trading at approximately ₹1,70,770 in Delhi and ₹17,062 per gram in Mumbai and Bengaluru. The MCX gold futures for April opened 1.88% lower at ₹1,80,499 per 10 grams, down from the previous close of ₹1,83,962. This follows a record high of ₹1,93,096 per 10 grams in the previous session.
Silver also saw a significant drop, with MCX prices falling about 4% at opening. Silver futures started at ₹3,83,898 per kilogram, compared to the previous close of ₹3,99,893. The decline follows a sharp rally on Thursday when silver hit a new record high of ₹4,20,048 per kg.
In regional markets, silver is priced at ₹395 per gram and ₹3,95,000 per kilogram in Pune and Bengaluru. Chennai’s silver rate stands at ₹415 per gram or ₹4,15,000 per kilogram. Hyderabad’s silver rate is slightly higher at ₹4,150 per 10 grams.
Gold prices in Pune are ₹17,062 per gram for 24K, ₹15,640 for 22K, and ₹12,797 for 18K gold. Similarly, in Bengaluru, the rates are ₹17,062 per gram for 24K, ₹15,640 for 22K, and ₹12,797 for 18K gold. Chennai reports slightly higher gold prices at ₹17,673 per gram for 24K, ₹16,200 for 22K, and ₹13,500 for 18K gold.
The fluctuations are driven by a mix of domestic demand and international market trends. Factors influencing prices include government policies, such as recent increases in excise duty on gold, which are prompting investors to consider silver as a hedge. Globally, silver prices are supported by steady demand, currently near $15 per ounce.
In Mumbai, 24-karat gold is priced around ₹1,70,620, while Delhi’s rates are approximately ₹1,70,770. Hyderabad’s prices are aligned with Mumbai’s, reflecting a broad market trend.
Overall, the current market volatility indicates cautious trading, with prices influenced by both local and international economic factors.
