Gold Prices Rise Across National Capital: Rates Climb by Rs 1,400 to Near Rs 1.61 Lakh
Gold prices witnessed an upward trend for the second consecutive session in the national capital, climbing by Rs 1,400 to reach nearly Rs 1.61 lakh per 10 grams.
Key Bullion Market Highlights
| Precious Metal | Rate / Price Movement | Key Details |
| Gold (99.9% Purity) | Rs 1,60,900 per 10 grams | Climbed by Rs 1,400 from the previous close of Rs 1,59,500 per 10 grams (inclusive of all taxes). |
| Silver Prices | Rs 2,40,500 per kilogram | Remained unchanged during the trading session. |
Market Trends & Expert Insights
- Buying Interest: Domestic bullion demand remained firm as local traders noted sustained buyer interest.
- Global Factors: Investors maintained a cautious approach ahead of critical global economic releases that are expected to shape interest rate trajectories and precious metals outlooks.
- Silver Inventory Concerns: Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd, noted that domestic silver prices have corrected over 40% from January peaks of above Rs 4 lakh per kg down to around Rs 2.3 lakh–2.4 lakh per kg. Investment demand remains subdued, with around 2,000 tonnes of silver ordered by Indian dealers potentially adding to inventory overhang if market demand fails to rebound.
- International Spot Rates: Globally, spot gold traded marginally lower at USD 4,465.34 per ounce, while silver moved down 0.38 per cent to USD 66.72 per ounce.
- US Economic Data: Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, pointed out that trader attention is heavily concentrated on the upcoming US non-farm payrolls report and subsequent inflation figures, which will provide vital cues for the US Federal Reserve’s monetary policy path.