Sharp surge in Gold prices; silver prices see sharp decline
New Delhi: Gold prices in the Indian bullion market have witnessed a sharp surge once again today on Saturday. Domestic gold rates have climbed due to a weakening dollar and a softening of crude oil prices in the global market. In the national capital, Delhi, the price of 24-carat gold has risen to ₹1,53,000 per 10 grams, while the rate for 22-carat gold stands at ₹1,40,260 per 10 grams. In other major metros like Mumbai, Kolkata, Chennai, and Bengaluru, 24-carat gold is trading at the level of ₹1,52,850 per 10 grams.
Silver prices see a sharp decline
While the shine of gold continues to intensify, there is welcome news for silver investors as the downward trend in silver prices persists. The price of silver in the domestic market has tumbled to ₹2,44,900 per kilogram. A massive drop of approximately ₹10,000 has been recorded in silver prices over the past week alone, offering significant relief to customers shopping for the festive and wedding seasons. Spot silver remains under pressure in the international market, driving these fluctuations at the domestic level.
Market activity picks up ahead of the festive season
Customer footfall in the bullion market has begun to rise in anticipation of the festive and upcoming wedding seasons. Market experts believe that the movement of the domestic bullion market is heavily dependent on international economic indicators, global inflation trends, and the policies of central banks. Although gold has witnessed minor fluctuations on a weekly basis due to global pressures, current rates remain a topic of discussion for both investors and buyers.