Gold Slips ₹10 to ₹1,55,770; Silver Down ₹100 as Global Prices Rebound
Domestic bullion eases in early trade even as US spot gold climbs back above $4,960 on bargain buying
Gold prices edged lower in early trade Saturday, slipping ₹10 across key purity categories, while silver declined ₹100 per kg, according to GoodReturns data.
Ten grams of 24-carat gold traded at ₹1,55,770, while silver stood at ₹2,79,900 per kilogram.
Gold Prices Across Major Cities
The pullback was uniform but modest.
- 24-carat gold: ₹1,55,770 in Mumbai and Kolkata; ₹1,55,920 in Delhi; ₹1,57,080 in Chennai.
- 22-carat gold: ₹1,42,790 in Mumbai, Kolkata, Bengaluru, and Hyderabad; ₹1,42,940 in Delhi; ₹1,43,990 in Chennai.
The price of 22-carat gold declined ₹10 to ₹1,42,790 per 10 grams.
Silver prices were consistent across metros—Delhi, Mumbai, Kolkata, and Chennai—all at ₹2,79,900 per kg.
Global Markets Rebound After Sharp Sell-Off
Internationally, bullion showed signs of recovery.
- Spot gold rose 1% to $4,966.83 per ounce by 0127 GMT, after falling more than 3% in the previous session and briefly slipping below the key $5,000 level.
- US April gold futures gained 0.7% to $4,985.40 per ounce.
- Spot silver jumped 2.1% to $76.76 per ounce, following an 11% drop on Wednesday.
The rebound followed bargain-hunting after metals slid to one-week lows. Strong US jobs data had earlier dampened expectations of near-term Federal Reserve rate cuts, intensifying selling pressure.
When rate-cut hopes fade, gold often loses its shine—at least temporarily.
Dollar Holds Steady
The US dollar remained mostly flat against peer currencies after mixed US economic signals. A stronger dollar typically makes greenback-priced metals more expensive for buyers using other currencies, weighing on demand.
Other precious metals also moved higher:
- Platinum rose 1.7% to $2,033.15 per ounce.
- Palladium gained 1.4% to $1,639.99 per ounce.
The Bigger Picture
Domestic gold’s mild ₹10 dip contrasts with the sharp swings seen globally this week. The metal remains near elevated levels, reflecting sustained investor interest despite volatility tied to US macro data.
With global prices bouncing and the dollar steady, traders now watch whether gold can decisively reclaim and hold above the psychological $5,000 mark.
Is this a brief pause—or the start of a deeper correction?
For now, India’s retail market reflects stability more than stress, even as global cues remain fluid.
TL;DR:
Gold prices in India fell ₹10, with 24-carat at ₹1,55,770 and 22-carat at ₹1,42,790 per 10 grams. Silver dropped ₹100 to ₹2,79,900 per kg. Globally, spot gold rebounded 1% to $4,966.83 after a sharp sell-off, while silver, platinum, and palladium also gained.
AI Summary:
- 24-carat gold falls ₹10 to ₹1,55,770.
- 22-carat gold down ₹10 to ₹1,42,790.
- Silver declines ₹100 to ₹2,79,900 per kg.
- US spot gold rebounds 1% to $4,966.83.
- Dollar steady; platinum and palladium rise.
