Prices Rise Across Indian Cities as Global Tensions Weigh In
Gold Sees Minor Hike in Early Trade
Gold prices went up slightly on Thursday morning. According to the GoodReturns website, the rate for 10 grams of 24-carat gold climbed by ₹10 and now stands at ₹1,00,920. Even though that’s not a huge jump, gold buyers are still keeping a close watch.
Unexpectedly, though, 22-carat gold did not follow; it dropped ₹10. Ten grams of 22-carat gold now account for ₹92,510. It is in good demand as jewellery among Indians and therefore especially valuable to mass consumers.
The price of 24-carat remained unchanged at ₹1,00,920 for 10 grams in Mumbai, Kolkata, and Chennai. But Delhi saw a bit higher rate of ₹1,01,070. When it comes to 22-carat gold, most metro cities, including Bengaluru and Hyderabad, stuck to ₹92,510, while Delhi ticked up slightly to ₹92,660.
Silver Shines Brighter With ₹100 Rise
Silver didn’t stay quiet either. Its value increased by ₹100 a kilogram and is now priced at ₹1,11,100 in Delhi, Mumbai, and Kolkata. Chennai joined the forefront again at a considerably higher rate of ₹1,21,100.
This kind of silver hike always grabs the attention of small investors and local traders who watch every move.
What’s Happening Globally That’s Pushing Prices
Looking at the international scene, gold prices edged higher on Thursday because people are turning to it as a safer option. With all the tension rising in the Middle East, especially between the US and Iran, investors are feeling nervous.
Spot gold increased slightly by a 0.3 percent to $3,378.86 an ounce in early trade. US gold futures declined a notch to $3,395.80. The small dip could be because the US Federal Reserve is hinting at slowing down rate cuts for now.
Even though they didn’t raise interest rates this time, the Fed said it might still go for small cuts later this year, just not too fast. That kind of news usually affects gold prices.
Silver, Platinum, and Palladium Stay Steady
Though silver hovered at a price of around $36.75 an ounce overseas, platinum increased 1 percent to $1,335.93. Palladium was also higher at $1,054.40.
Crude Oil Prices Rise Globally, Yet Petrol and Diesel Rates Cut in Some Indian States Like UP, Bihar
Final Thoughts
It may not seem like a big deal that the rates increase by ₹10 here and ₹100 there, but to the budget- planners who are getting married or want to celebrate a festival, every rupee counts. And when world events begin unbalancing the markets, these small movements begin to build so rapidly.
