Silver prices fell further to Rs 2.33 lakh per kg on Tuesday, while gold slipped to Rs 1.43 lakh per 10 grams. Extending the decline seen over the past few days, silver dropped sharply in the national capital, and gold also moved lower. The fall came as investors booked profits amid a global selloff triggered by geopolitical developments and news that India and the US have agreed to a trade deal, according to data from the India Bullions website.
On the MCX, March silver futures fell 1.6% to Rs 2.32 lakh per kg. At the same time, April gold futures slipped 0.7% to Rs 1.43 lakh per 10 grams.
In early Tuesday trade, spot gold recovered slightly after heavy losses over the past two sessions. The metal had lost around 13% of its value in just two days following a sharp reversal from record highs. Spot gold rose as much as 2.9% to near $4,800 an ounce, after falling nearly 5% in the previous session. That drop added to Friday’s slide, which was the biggest single-day fall in more than a decade. Silver also edged higher, gaining up to 5.1% to move above $83 an ounce, after plunging 7% on Monday and seeing a sharp intraday fall on January 30.
Over the past year, precious metals have climbed to record levels, surprising even seasoned market players. The rally picked up further in January as investors turned to gold and silver amid fresh concerns over global tensions, weaker currencies, and uncertainty around the US Federal Reserve’s independence.
Friday’s sharp fall was triggered by reports that US President Donald Trump plans to nominate Kevin Warsh as the next Federal Reserve Chair. The news strengthened the dollar and hurt market sentiment, especially among traders who had expected Trump to support a weaker currency.
Gold Price Today
In Mumbai, the country’s financial hub, 24-carat gold is trading at around Rs 142,890 per 10 grams. Kolkata is close behind, with gold priced at Rs 142,700. Both cities are trading above Delhi, where the 24-carat gold rate stands at Rs 142,640.
Southern cities continue to report the highest gold prices in the country. Chennai tops the list at Rs 143,300 per 10 grams. Hyderabad and Bengaluru follow at Rs 143,110 and Rs 143,000, respectively, keeping southern markets ahead of northern cities.
Silver Price Today
Silver prices remain strong across major Indian cities. In Mumbai, silver is trading at Rs 232,840 per kg. Delhi is close behind, with prices at Rs 232,440 per kg.
In the south, silver is priced higher. Chennai and Hyderabad are trading at around Rs 233,260 and Rs 233,210 per kg, respectively. Bengaluru is also firm at about Rs 233,020 per kg. Kolkata is seeing silver trade at nearly Rs 232,530 per kg.
Gold Rates City-Wise
Prices per 10 grams
Mumbai: Rs 142,890
Delhi: Rs 142,640
Bengaluru: Rs 143,000
Chennai: Rs 143,300
Hyderabad: Rs 143,110
Kolkata: Rs 142,700
Silver Rates City-Wise
Prices per 1 kg
Mumbai: Rs 232,840
Delhi: Rs 232,440
Bengaluru: Rs 233,020
Chennai: Rs 233,260
Hyderabad: Rs 233,210
Kolkata: Rs 232,530
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