Gold price falls ₹10 to ₹1,25,070; silver down ₹100, trading at ₹1,79,900

Gold Price Today: The price of 24-carat gold dropped ₹10 in early trade on Monday, with ten grams of the precious metal trading at ₹1,25,070, according to the GoodReturns website. The price of silver also fell ₹100, with one kilogram of the precious metal selling at ₹1,79,900.

 

The price of 22-carat gold fell by ₹10, with ten grams of the yellow metal selling at ₹1,14,640.

 

The price of ten grams of 24-carat gold stood at  ₹1,25,070 in Mumbai and Kolkata, and at  ₹1,25,450 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at  ₹1,25,220.

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,14,640, the same as in Kolkata, Bengaluru, and Hyderabad; in Chennai, it stood at ₹1,14,990.

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

     

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,14,790. 

        

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,79,900. 

  

The price of one kilogram of silver in Chennai stood at ₹1,89,900.

 

US gold prices climbed to a record high on Monday, driven by safe-haven demand on fresh US-China trade concerns, while broader economic and political uncertainties and expectations of further US interest rate cuts also lent support.  Spot gold was up 0.6 per cent at $4,043.14 per ounce, as of 0059 GMT, after hitting an all-time high of $4,059.30 earlier in the day.

 US gold futures for December delivery gained 1.5 per cent to $4,059.60.

 

Non-yielding bullion has surged 54 per cent year-to-date, driven by geopolitical risks, central bank purchases, exchange-traded fund inflows, US rate-cut expectations, and tariff-related economic concerns. 

 

Elsewhere, spot silver was up 0.1 per cent at $50.31 per ounce, platinum rose 2.6 per cent to $1,628.5 and palladium gained 2.1 per cent to $1,434.75.  Goldman Sachs said on Sunday that silver prices were expected to rise in the medium term due to private investment flows, but warned of heightened near-term volatility and downside risks compared to gold.

 

(with inputs from Reuters)