New Delhi: Precious metal prices in India’s bullion market continue to trade at elevated levels, driven by firm global cues and steady domestic demand. While gold rates have remained largely uniform across major states, silver prices are showing distinct variations between northern and southern markets.
According to market experts, the current price trends are being influenced by a combination of international market strength, fluctuations in the dollar index, and investor preference for safe-haven assets. Additionally, sustained demand from the wedding season and investment buying has kept the bullion market stable yet robust.
Gold Rates Across Major Cities
Gold prices remained consistent across key markets including Delhi, Mumbai, Bengaluru, and Lucknow. In major trading hubs across Madhya Pradesh, Uttar Pradesh, Bihar, Rajasthan, Haryana, Chhattisgarh, Maharashtra, Karnataka, Tamil Nadu, and Telangana, the rates for standard gold were recorded as follows:
- 24-Carat Gold: ₹13,391 per gram
- 22-Carat Gold: ₹12,275 per gram
- 18-Carat Gold: ₹10,043 per gram
Silver Prices: North vs South Divide
Unlike gold, silver rates exhibited a sharp regional divide. In northern and central markets—including Bhopal, Indore, Lucknow, Noida, Kanpur, Varanasi, Patna, Jaipur, Gurugram, Raipur, New Delhi, Mumbai, Pune, and Bengaluru—silver was recorded at ₹1,98,000 per kg.
However, in southern markets such as Chennai (Tamil Nadu) and Hyderabad (Telangana), silver commanded a significant premium, trading at a higher rate of ₹2,10,000 per kg.
Weekly Market Trends
Over the past week, the trajectories of the two precious metals have diverged. Gold prices remained largely range-bound with minor fluctuations, maintaining overall stability. In contrast, silver witnessed high volatility.
At the start of the previous week, silver was trading near ₹1.90 lakh per kg. Following a series of ups and downs, it has settled around ₹1.98 lakh per kg in most markets, marking a net increase of approximately ₹8,000 per kg in just seven days. Meanwhile, southern markets like Chennai maintained a consistent premium throughout the week, holding steady at the ₹2.10 lakh mark.
Market Outlook
Analysts suggest that the future direction of bullion prices will depend heavily on international economic indicators, the movement of the US dollar, and the persistence of local demand. For now, while gold remains stable at high levels, the disparity in silver prices underscores the impact of localized demand and supply logistics.
Disclaimer: The rates mentioned above are indicative and based on available market data. These prices exclude GST, TCS, and making charges. Final retail prices may vary depending on the jeweler, location, and specific taxes.
