Gold Silver Rate Today: Gold and silver traded on a mixed note on Thursday morning, with gold easing on profit booking while silver extended its upward momentum for a third consecutive session amid growing expectations that the US Federal Reserve will maintain a patient approach to interest rates.
On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at Rs 1,43,882 per 10 grams, down Rs 548 or 0.37 per cent from the previous close of Rs 1,44,430.
By around 10.40 am, the yellow metal was trading at Rs 1,43,797, lower by Rs 633 or 0.44 per cent. During the session, gold touched an intraday low of Rs 1,43,771, down Rs 659 or 0.45 per cent, while the day’s high stood at Rs 1,44,448.
Silver, however, continued to outperform. MCX September futures climbed as much as 0.84 per cent, or nearly Rs 2,000, to an intraday high of Rs 2,32,339 per kg. At around 10.40 am, the white metal was trading at Rs 2,30,790, up Rs 406 or 0.18 per cent, after opening at Rs 2,31,196, a gain of Rs 812 or 0.35 per cent over the previous close of Rs 2,30,384. The session’s low was Rs 2,30,513 per kg.
A similar trend was visible in overseas markets. Spot gold slipped 0.14 per cent to $4,076 per ounce, while silver edged 0.14 per cent higher to $60.59 per ounce.
According to market analysts, gold came under pressure as investors booked profits after COMEX gold retreated from the previous session’s high of $4,115 per ounce. Traders are also awaiting the US non-farm payrolls report, which is expected to provide fresh signals on the Federal Reserve’s monetary policy outlook.
At the same time, softer-than-expected US labour market data and lower crude oil prices helped prevent a steeper decline in gold prices.
Silver, meanwhile, continued to attract buying interest, supported by easing US inflation expectations and expectations that the Federal Reserve will refrain from raising interest rates in the near term. Analysts said comments from the US Federal Reserve Chair indicating there is no immediate need for tighter monetary policy have further strengthened sentiment towards the white metal.
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Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,470
22 Karat- 13,265
18 Karat- 10,856
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,618
22 Karat- 13,400
18 Karat- 11,160
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,455
22 Karat- 13,250
18 Karat- 10,841
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,455
22 Karat- 13,250
18 Karat- 10,841
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,455
22 Karat- 13,250
18 Karat- 10,841
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,455
22 Karat- 13,250
18 Karat- 10,841
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Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 245 per gram and Rs 245,000 per kg.
Gold traded mixed, easing due to profit booking. Silver, however, continued its upward momentum for a third consecutive session amid expectations of a patient US Federal Reserve approach.
Gold prices eased primarily due to profit booking by investors and COMEX gold retreating from previous highs. Traders are also anticipating the US non-farm payrolls report.
Silver’s rise was supported by easing US inflation expectations and expectations of the Federal Reserve maintaining a patient approach to interest rates. Fed Chair comments also strengthened sentiment.
On July 2, the price of 24-karat gold in Chennai was Rs 14,618 per gram.
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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