Gold Silver Rate Today: Gold and silver traded in a volatile range on Thursday, swinging between gains and losses as investors weighed expectations of further US Federal Reserve rate hikes against easing geopolitical tensions.
On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at Rs 1,40,672 per 10 grams, down Rs 598, or 0.42 per cent, from the previous close of Rs 1,41,270. Buying interest later emerged, lifting prices to an intraday high of Rs 1,41,989, up Rs 719, or 0.50 per cent, by 11:38 am. However, the contract also slipped to an intraday low of Rs 1,40,543, marking a decline of Rs 727, or 0.51 per cent.
Silver futures for July delivery mirrored the choppy trend. The contract opened at Rs 2,10,308 per kg, down Rs 2,767, or 1.30 per cent, from the previous close of Rs 2,13,075. During the session, silver touched a low of Rs 2,10,043, down Rs 3,032, or 1.42 per cent, before rebounding to an intraday high of Rs 2,15,950, up Rs 2,875, or 1.34 per cent.
In overseas markets, precious metals remained under pressure. COMEX gold was down 0.42 per cent at $3,991.80 per ounce, while COMEX silver slipped 1.65 per cent to $57.13 per ounce.
Analysts said gold was hovering near an eight-month low, while silver was trading around its weakest levels since December. They attributed the weakness to a stronger US dollar, which has climbed to a one-year high, and growing expectations that the US Federal Reserve could resume interest rate hikes as early as September.
They also noted that the sharp sell-off in US technology stocks prompted some investors to liquidate bullion holdings to offset losses in other asset classes. Meanwhile, easing geopolitical tensions and softer crude oil prices have helped ease inflation concerns, with market participants now awaiting upcoming US inflation data for further guidance on the Federal Reserve’s policy path.
On the energy front, Brent crude declined around 2 per cent to trade near $72 a barrel, while US WTI crude slipped 1.83 per cent to below the $70-per-barrel mark.
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Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,028
22 Karat- 12,860
18 Karat- 10,525
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,335
22 Karat- 13,140
18 Karat- 10,981
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,013
22 Karat- 12,845
18 Karat- 10,510
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,013
22 Karat- 12,845
18 Karat- 10,510
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,013
22 Karat- 12,845
18 Karat- 10,510
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,013
22 Karat- 12,845
18 Karat- 10,510
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Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 230 per gram and Rs 230,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 235 per gram and Rs 235,000 per kg.
Gold and silver traded in a volatile range due to expectations of further US Federal Reserve rate hikes. Easing geopolitical tensions also played a role in their fluctuating prices.
Precious metals in overseas markets were under pressure due to a stronger US dollar, which reached a one-year high. Expectations of the US Federal Reserve resuming interest rate hikes also contributed to the weakness.
Easing geopolitical tensions and softer crude oil prices helped to alleviate inflation concerns. Market participants are now awaiting upcoming US inflation data for further guidance.
Gold futures for August delivery on the MCX opened lower but showed volatility. Prices swung between an intraday high of Rs 1,41,989 and a low of Rs 1,40,543.
Sakshi Arora is Chief Copy Editor at ABP Live English, working on business stories that track markets, global economies and key financial trends. A quick and dependable hand on the desk, she balances numbers with nuance, and is an expert on everything Personal Finance, Mutual Funds, and IPOs.
For any tips and queries, you can reach out to her at sakshia@abpnetwork.com.
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