Gold Prices Rise Slightly, Silver Declines in Early Trading
Gold price climbs ₹10 to ₹1,55,580; silver down ₹100, trading at ₹2,69,900
Business Standard
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On Friday, the price of 24-carat gold increased by ₹10, reaching ₹1,55,580 per ten grams, while silver prices fell by ₹100 to ₹2,69,900 per kilogram. The fluctuations in gold and silver prices come amid ongoing market stability and investor sentiment regarding US-Iran negotiations.
- 0124-carat gold price rose by ₹10 to ₹1,55,580 per ten grams.
- 02Silver price decreased by ₹100, trading at ₹2,69,900 per kilogram.
- 0322-carat gold price also increased by ₹10, reaching ₹1,42,610 per ten grams.
- 04Gold prices in Chennai are higher than in other major cities.
- 05US gold remains steady, showing a potential for a fourth consecutive weekly gain.
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In early trading on Friday, the price of 24-carat gold rose by ₹10, bringing the total to ₹1,55,580 per ten grams, as reported by the GoodReturns website. Meanwhile, the price of silver saw a decline of ₹100, trading at ₹2,69,900 per kilogram. The price of 22-carat gold also increased by ₹10, reaching ₹1,42,610 per ten grams. Notably, gold prices varied across cities, with Chennai recording the highest price of ₹1,56,670 for 24-carat gold. The market for gold in the US remained stable, with spot gold unchanged at $4,789.67 per ounce, contributing to a 0.9% increase for the week. Analysts attribute these trends to easing fears of inflation and interest rate hikes due to ongoing US-Iran negotiations.
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The slight increase in gold prices may encourage investment in gold as a safe asset, while the decline in silver prices could affect those looking to invest in precious metals.
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