New Delhi, Delhi
Gold Silver Price: Precious metal prices showed mixed trends on Wednesday. In Delhi’s bullion market, gold prices declined for the third consecutive trading session, while silver continued its upward trend for the second straight session. Meanwhile, on the Multi Commodity Exchange (MCX), both gold and silver recorded gains.
According to the All India Sarafa Association, 99.9% pure gold in Delhi fell by ₹100 to ₹1,58,000 per 10 grams. In the previous trading session, the price stood at ₹1,58,100 per 10 grams. The decline was attributed to weak demand in the domestic market.
Silver Makes a Strong Jump
Silver witnessed a sharp rise on Wednesday, outperforming gold. Its price increased by ₹2,300 to reach ₹2,43,400 per kilogram, compared with ₹2,41,100 per kilogram on Tuesday.
This means silver gained ₹2,300 in a single trading session. With prices rising for the second consecutive session, silver continues to show strong momentum in the domestic market. The prices mentioned here are inclusive of all applicable taxes.
Both Precious Metals Gain on MCX
Despite the decline in gold prices in Delhi’s physical market, gold remained firm in the futures market. Both gold and silver recorded gains on the MCX.
The divergence between spot and futures prices has increased investors’ focus on global market signals. Several factors influencing international gold and silver prices remain important for the precious metals market.
US Inflation Data to Determine the Next Direction
According to market experts, investors are closely watching the upcoming US inflation data. The figures could influence market expectations regarding the monetary policy and interest-rate decisions of the US Federal Reserve.
Potential changes in US interest rates can affect the dollar and bond yields, which in turn have a significant impact on gold prices. Similarly, global economic uncertainty and industrial demand remain key factors influencing silver prices.
For now, the domestic market presents a mixed picture. Gold has become slightly cheaper in Delhi, while silver has recorded a strong gain. At the same time, both precious metals are trading higher on the MCX.
In the coming trading sessions, US inflation data and trends in international markets are likely to remain key factors determining the direction of gold and silver prices.
