In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 68,760.
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 68,760.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 75,010.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 75,160, Rs 75,010, and Rs 75,500, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 68,760.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 68,910, Rs 68,760, and Rs 69,210, respectively.
The price of one kilogram of silver in Delhi is in line with the price of silver in Mumbai and Kolkata at Rs 96,100.
The price of one kilogram of silver in Chennai stood at Rs 1,00,600.
US Gold prices held steady on Thursday after hitting a record peak in the previous session amid rising expectations of a US rate cut in September.
Spot gold was little changed at $2,459.47 per ounce, as of 0051 GMT. Prices hit an all-time high of $2,483.60 on Wednesday. US gold futures rose 0.1 per cent to $2,462.50.
Spot silver rose 0.1 per cent to $30.33 per ounce, platinum steadied at $994.40 and palladium gained 0.8 per cent to $958.99.
(With inputs from Reuters)
First Published: Jul 18 2024 | 7:19 AM IST
### Insights into Gold Prices
While the price of gold has seen a modest increase, the market remains stable, reflecting uncertainties surrounding US interest rate cuts. The alignment of gold prices across major cities in India suggests a consistent trend in pricing based on purity (22-carat and 24-carat). This stability could indicate a cautious approach by investors, potentially influenced by global economic factors and geopolitical tensions.
### Silver and Other Precious Metals
The rise in silver prices, along with steady platinum and palladium rates, indicates a mixed sentiment in the precious metals market. Silver, often considered a more volatile investment compared to gold, shows resilience in a changing economic landscape. Investors might view platinum and palladium as reliable assets in times of market uncertainty, given their consistent prices amidst fluctuating market conditions.
### Global Market Trends
The observation of US gold prices holding firm after a recent peak highlights the intricacies of the international market. The anticipation of a US rate cut in September could impact gold prices globally, reflecting the interconnected nature of economic indicators. As investors navigate through these uncertain times, monitoring global trends will be crucial in understanding the broader implications on precious metal prices.
