- Silver prices fell further to Rs 2.33 lakh per kg in Delhi amid global selloff and trade deal news
- Gold dropped to Rs 1.43 lakh per 10 grams on profit booking after a sharp recent rally
- MCX futures show silver down 1.6% and gold down 0.7% in early March and April contracts
Broadly continuing the plunge from the past couple of days, the prices of silver collapsed further to Rs 2.33 lakh per kg in the national capital on Tuesday, while gold plunged to Rs 1.43 lakh per 10 grams, as investors booked profits amid a global selloff triggered by geopolitical events and India and US agreed to a trade deal, according to the India Bullions website
On MCX, March futures for silver have fallen 1.6% to Rs 2.32 lakh per kilogram, whereas April futures for gold have fallen 0.7% to Rs 1.43 lakh per 10 grams.
In early Tuesday trading, spot gold rebounded slightly, recovering part of the sharp losses that followed the sudden reversal of its record-setting rally, which had erased 13% of its value in just two days. Silver also moved higher. Spot gold rose as much as 2.9%, approaching $4,800 an ounce, after dropping nearly 5% in the previous session and deepening Friday's slide—the largest single day decline in over ten years. Silver gained up to 5.1%, climbing above $83, after falling 7% on Monday and suffering a historic intraday plunge on January 30.
Over the past year, precious metals have climbed to unprecedented levels, surprising even veteran market participants. The surge gained even more momentum in January, fueled by investors seeking refuge in gold and silver amid renewed worries about global tensions, weakening currencies, and questions surrounding the Federal Reserve's autonomy.
Friday's sharp downturn was sparked by news that U.S. President Donald Trump plans to nominate Kevin Warsh as the next Fed Chair. The announcement strengthened the dollar and dampened sentiment among traders who had been counting on Trump to tolerate a softer currency.
Gold Price Today
In Mumbai, the financial heart of the country, 24-carat gold is retailing at approximately Rs 142,890 per 10 grams. Kolkata follows a similar trend, with its gold rate reported at Rs 142,700. Both cities are ahead of the national capital, Delhi, where the 24-carat rate currently stands at Rs 142,640.
The southern markets continue to record the highest figures in the country. Chennai leads the metros with a peak rate of Rs 143,300, while Hyderabad and Bengaluru follow closely at Rs 143,110 and Rs 143,000 respectively, keeping the price gap between the southern hubs and the northern capital distinct.
Silver Price Today
Here is how the silver rates are unfolding across major Indian hubs today: Mumbai is the epicenter of this price rally. Prices have surged to Rs 232,840 per kg. In the national capital, Delhi, silver is keeping pace with Mumbai, currently priced at Rs 232,440 per kg.
Chennai and Hyderabad are seeing silver trade at approximately Rs 233,260 and Rs 233,210 per kg, respectively. Bengaluru follows closely, with rates hovering around Rs 233,020 per kg. Kolkata is also witnessing a surge with silver currently trading at roughly Rs 232,530.
Gold Rates City-Wise
The following rates are as per 10 grams of gold.
Mumbai: Rs 142,890
Delhi: Rs 142,640
Bengaluru: Rs 143,000
Chennai: Rs 143,300
Hyderabad: Rs 143,110
Kolkata: Rs 142,700
Silver Rates City-Wise
The following rates are as per 1 kg
Mumbai: Rs 232,840
Delhi: Rs 232,440
Bengaluru: Rs 233,020
Chennai: Rs 233,260
Hyderabad: Rs 233,210
Kolkata: Rs 232,530
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