Gold and Silver: In the early trading session on Monday, the value of 24-carat gold saw a slight decline, slipping by Rs 10. As per the data from the GoodReturns website, ten grams of this precious metal were trading at Rs 66,810. Similarly, the price of silver also experienced a dip, dropping by Rs 100. Consequently, one kilogram of silver was being sold at Rs 77,400. These fluctuations in the prices of gold and silver are closely watched by investors and traders for potential insights into market trends and economic indicators.
The cost of 22-carat gold also saw a decrease of Rs 10, with the yellow metal being retailed at Rs 61,240.
The price of ten grams of 24-carat gold in Mumbai aligns with rates in Kolkata and Hyderabad, standing at Rs 66,810.
In Delhi, Bengaluru, and Chennai, the price for ten grams of 24-carat gold was recorded at Rs 66,960, Rs 66,810, and Rs 67,460, respectively.
In Mumbai, the price for ten grams of 22-carat gold matches that of Kolkata and Hyderabad, standing at Rs 61,240.
In Delhi, Bengaluru, and Chennai, the price for ten grams of 22-carat gold was reported as Rs 61,390, Rs 61,240, and Rs 61,840, respectively.
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata was consistent at Rs 77,400.
In Chennai, the cost of one kilogram of silver was recorded at Rs 80,400.
Gold prices in the US experienced an uptick today fueled by renewed expectations that the US Federal Reserve could initiate interest rate cuts in June. This sentiment, combined with a weaker dollar, boosted the appeal of bullion.
As of 0350 GMT, spot gold had risen by 0.4 percent to $2,172.09 per ounce, while US gold futures increased by 0.6 percent to $2,173.40 per ounce.
The dollar depreciated by 0.1 percent against its counterparts, consequently reducing the cost of gold for holders of other currencies. Tim Waterer, Chief Market Analyst at KCM Trade, commented, “The conditions continue to appear favorable for the precious metal markets.”
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Spot silver saw a 0.2 percent increase, reaching $24.71 per ounce, while platinum rose by 1 percent to $902.60, and palladium climbed by 1.4 percent to $999.79.
