In early trade on Monday, the price of 24-carat gold slipped by Rs 10, with ten grams of the precious metal selling at Rs 72,370. Simultaneously, silver prices also saw a decline of Rs 100, with one kilogram of the precious metal priced at Rs 91,900.
The price of 22-carat gold also saw a similar Rs 10 decline, trading at Rs 66,340 for ten grams.
In major Indian cities like Mumbai, Kolkata, and Hyderabad, the price of ten grams of 24-carat gold remained consistent at Rs 72,370.
Meanwhile, in Delhi, Bengaluru, and Chennai, the prices for ten grams of 24-carat gold were reported at Rs 72,520, Rs 72,370, and Rs 73,030, respectively.
For 22-carat gold, prices in Mumbai mirrored those in Kolkata and Hyderabad, standing at Rs 66,340. In Delhi, Bengaluru, and Chennai, the prices for ten grams of 22-carat gold were Rs 66,490, Rs 66,340, and Rs 66,940, respectively.
The silver market also showed consistency, with the price of one kilogram of silver in Delhi matching prices in Mumbai and Kolkata at Rs 91,900, while in Chennai, it stood higher at Rs 96,100.
Internationally, US gold prices edged higher on Monday amid lower Treasury yields, as investors awaited key economic data and insights from Federal Reserve officials scheduled throughout the week to gauge the US central bank’s stance on potential interest rate cuts.
As of 0155 GMT, spot gold recorded a 0.2 percent increase to reach $2,324.36 per ounce, while US gold futures also saw a 0.2 percent rise, trading at $2,336.70 per ounce. Spot silver rose by 0.1 percent to $29.55 per ounce, platinum dipped 0.2 percent to $990.30, and palladium lost 0.1 percent, trading at $947.50 per ounce.
Investors and analysts will closely monitor economic indicators and Fed communications for further cues on market trends and precious metal prices in the coming sessions.
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