Gold Silver Rate Today: Gold prices fell sharply on Friday, extending weekly losses as a stronger US dollar and growing expectations of higher interest rates reduced demand for the precious metal. Silver prices also remained under pressure amid broader weakness in the bullion market.
The decline came as the U.S. dollar climbed to a one-year high, making gold more expensive for holders of other currencies and reducing demand for the metal.
Investors also reassessed the outlook for interest rates after signals from policymakers suggested borrowing costs could remain elevated for longer.
The dollar’s rise to a one-year high added fresh pressure on bullion prices. A stronger greenback typically makes gold costlier for overseas buyers, often weighing on demand. Gold is traditionally viewed as a safe-haven asset, but its appeal tends to weaken when the dollar strengthens significantly.
Nine of the 19 policymakers at the U.S. central bank believe they will need to raise the policy rate this year. That view aligns with actions and signals from several global central banks that have either increased borrowing costs or indicated they may do so to contain inflationary pressures linked to the Iran war.
Gold generally loses attractiveness in a high-interest-rate environment because it does not offer any yield or interest income.
Goldman Sachs lowered its gold price target for December to $4,900 per ounce from its earlier forecast of $5,400 per ounce. The investment bank also said it does not expect the U.S. Federal Reserve to cut interest rates this year, reinforcing expectations that rates could stay higher for longer
On the geopolitical front, planned U.S.-Iran talks scheduled for Friday at the Burgenstock mountaintop resort in Switzerland will not take place. The development was confirmed in a statement from Switzerland’s foreign ministry.
Also Read: Big Relief For Oil Markets: Hormuz Reopens, Crude Prices Fall Below $80
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,601
22 Karat- 13,385
18 Karat- 10,954
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,805
22 Karat- 13,750
18 Karat- 11,350
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,586
22 Karat- 13,370
18 Karat- 10,939
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,586
22 Karat- 13,370
18 Karat- 10,939
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,586
22 Karat- 13,370
18 Karat- 10,939
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,586
22 Karat- 13,370
18 Karat- 10,939
Also Read: Can You Get A Personal Loan Without Collateral? Your CIBIL Score Could Make All The Difference
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 255 per gram and Rs 255,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 250 per gram and Rs 250,000 per kg.
In a high-interest rate environment, gold generally loses its appeal. This is because it does not provide any yield or interest income, unlike other investment options.
Akshat Ayush is an Editorial Intern at ABP Live English covering business and personal finance. An English Journalism graduate from IIMC Delhi, he is keen on making finance stories accessible and engaging.
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