Gold prices on MCX futures saw a slight decrease of 0.16 per cent, with April delivery standing at 65,931.00 for 10 grams. Conversely, silver prices rose by 0.02 per cent to reach 74,526.00 per kg.
In the domestic market, the price of gold is currently trading at Rs 6,074 per gram for 22 karat gold and Rs 6,626 per gram for 24 karat gold. Additionally, the price of gold in various cities across India varies slightly:
1) In Delhi, the price of gold is Rs 6,089 per gram for 22 karat gold and Rs 6,641 per gram for 24 karat gold.
2) In Mumbai, the price is Rs 6,074 per gram for 22 karat gold and Rs 6,626 per gram for 24 karat gold.
3) In Bengaluru, the price is Rs 6,074 per gram for 22 karat gold and Rs 6,626 per gram for 24 karat gold.
4) In Chennai, the price is Rs 6,149 per gram for 22 karat gold and Rs 6,709 per gram for 24 karat gold.
Gold prices experienced a slight dip from near record-high levels, attributed to anticipation of a key US inflation report. US gold futures also dropped by 0.2 per cent to $2,185.00. Market strategist Yeap Jun Rong noted that after the recent surge in gold prices, a short-term correction might be in order. Any unexpected rise in US inflation data for February could lead to a temporary decline in gold prices.
On the other hand, silver saw a 0.1 per cent increase to $24.45. Spot platinum fell by 0.3 per cent to $930.00 per ounce, while palladium dropped by 0.1 per cent to $1,029.38.
It’s essential for investors to monitor these fluctuations closely and consider the impact of key economic indicators on the prices of precious metals.
