New Delhi: The Gold and Silver Rate Today witnessed a rebound on Monday as bullion prices moved higher after last week’s sharp correction. Investors returned cautiously to the precious metals market while keeping a close watch on global economic developments and geopolitical tensions.
The Gold and Silver Rate Today trend comes despite expectations of short-term volatility, with analysts warning that intermittent pressure may continue in the holiday-shortened trading week. Domestic commodity markets will remain closed on Friday due to Maharashtra Day.
Global Factors Driving Sentiment
The Gold and Silver Rate Today movement is being influenced by global developments, including ongoing US-Iran peace talks, which could impact crude oil prices and overall commodity sentiment. Market experts believe these negotiations will play a key role in determining the near-term direction of bullion.
Investors are also focused on key global events, including policy decisions from the US Federal Reserve, Bank of Japan, Bank of England, and European Central Bank, all of which could impact the Gold and Silver Rate Today outlook.
Recent Sharp Decline in Bullion
Last week, the Gold and Silver Rate Today saw a notable correction after strong gains in previous weeks. On the MCX, gold futures fell by Rs 1,910 to settle at Rs 1.54 lakh per 10 grams, while silver dropped sharply by Rs 12,506 to Rs 2.44 lakh per kg.
The fall in the Gold and Silver Rate Today was largely due to profit booking, a stronger US dollar, and higher US Treasury yields following robust economic data.
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Currency and Crude Oil Impact
Crude oil prices rising above $100 per barrel have added inflation concerns globally, indirectly influencing the Gold and Silver Rate Today. However, a weaker Indian rupee provided some support to domestic gold prices, limiting deeper losses.
City-Wise Gold Prices in India
The Gold and Silver Rate Today across major Indian cities stood as follows:
- Delhi: 24K – ₹15,457 | 22K – ₹14,170 | 18K – ₹11,587
- Mumbai: 24K – ₹15,442 | 22K – ₹14,155 | 18K – ₹11,582
- Chennai: 24K – ₹15,524 | 22K – ₹14,230 | 18K – ₹11,870
- Bengaluru: 24K – ₹15,442 | 22K – ₹14,155 | 18K – ₹11,582
- Kolkata: 24K – ₹15,442 | 22K – ₹14,155 | 18K – ₹11,582
Silver Rates Across Major Cities
The Gold and Silver Rate Today also reflected stable silver pricing:
- Delhi: ₹260 per gram | ₹2,60,000 per kg
- Mumbai: ₹260 per gram | ₹2,60,000 per kg
- Bengaluru: ₹260 per gram | ₹2,60,000 per kg
- Pune: ₹260 per gram | ₹2,60,000 per kg
- Kolkata: ₹260 per gram | ₹2,60,000 per kg
- Chennai: ₹270 per gram | ₹2,70,000 per kg
Market Outlook
Experts believe the Gold and Silver Rate Today will remain sensitive to global macroeconomic cues, US dollar movement, and geopolitical developments. While volatility is expected to continue, bullion may find support if global uncertainties persist in the coming sessions.