Gold and silver prices in India experienced a significant spike the day before, but then declined steeply for gold and marginally for silver on January 4th. Prior to this, gold prices had remained stable for three days. The price of gold declined by ₹270, while the price of silver decreased by ₹3 per 10 grams on Thursday, following an increase of the same amount the day before. Gold and silver prices had remained unchanged from December 30th to January 2nd, after which they saw a sudden spike.
On January 4th, the price of one gram of 24K gold was fixed at ₹6397, and the price of 22K gold was set at ₹5865. Silver prices also saw a marginal increase, reaching ₹78.90 per gram.
City-wise rates for gold on January 4th were as follows (per 10 grams):
– Delhi: ₹58,650 (22K) and ₹63,970 (24K)
– Mumbai: ₹58,500 (22K) and ₹63,820 (24K)
– Kolkata: ₹58,500 (22K) and ₹63,820 (24K)
– Bengaluru: ₹58,500 (22K) and ₹63,820 (24K)
– Chennai: ₹59,150 (22K) and ₹64,530 (24K)
It is important to note that these rates do not include GST, TCS, and other levies, and are therefore only indicative.
After the decline in gold prices, silver prices also took a hit on January 4th, decreasing by ₹3 per 10 grams of the metal. The prices for silver on that day were fixed at ₹78.60 for one gram. City-wise rates for silver were as follows (per 10 grams):
– Delhi: ₹786
– Mumbai: ₹786
– Kolkata: ₹786
– Bengaluru: ₹765
– Chennai: ₹800
Additional Insight:
The fluctuation in gold and silver prices is influenced by various factors, including global economic trends, geopolitical tensions, and demand for precious metals. Investors and consumers often track these price changes closely as they can impact financial decisions, such as purchasing or selling gold and silver. Additionally, these fluctuations may reflect broader economic conditions, making them an important barometer for the financial markets.
