The prices of gold and silver suffered a steep decline on Friday. The prices of silver fell to Rs 2.47 lakh per kg, while gold fell marginally to Rs 1.52 lakh per 10 grams, according to the India Bullions website.
The white metal erased its two‑day rebound as silver continued to struggle for support after an unprecedented market crash. Spot silver plunged by nearly 20% on Thursday, slipping below $71 an ounce, with the selloff intensifying during the Asian trading hours.
Silver and gold prices halted their two‑day upward trend and recorded a steep decline in Thursday's futures trading, pressured by weak global cues and a stronger US dollar.
On the Multi Commodity Exchange (MCX), silver futures for March tumbled by Rs 26,850, or 10%, to Rs 2,42,000 per kilogram. The metal had closed at Rs 2,68,850 per kg in the previous session. Gold futures followed a similar pattern. The April contract slipped by Rs 2,310, or 1.51%, to Rs 1,50,736 per 10 grams, compared with Wednesday's close of Rs 1,53,046 per 10 grams.
Precious metals surged last month, driven by speculative trading, rising geopolitical tensions, and renewed worries about the Federal Reserve's autonomy. But that powerful rally abruptly reversed late last week, with silver suffering its largest one‑day decline on record and gold experiencing its steepest fall since 2013. The pullback followed repeated cautions from analysts who warned that prices had risen too far, too fast.
Gold Price Today
In Mumbai, the financial heart of the country, 24-carat gold is retailing at approximately Rs 152,180 per 10 grams. Kolkata follows a similar trend, with its gold rate reported at Rs 151,970. Both cities are ahead of the national capital, Delhi, where the 24-carat rate currently stands at Rs 151,910.
The southern markets continue to record the highest figures in the country. Chennai leads the metros with a peak rate of Rs 152,620, while Hyderabad and Bengaluru follow closely at Rs 152,420 and Rs 152,300 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 fallen to Rs 246,870 per kg. In the national capital, Delhi, silver is keeping pace with Mumbai, currently priced at Rs 246,440 per kg.
Chennai and Hyderabad are seeing silver trade at approximately Rs 247,590 and Rs 247,260 per kg, respectively. Bengaluru follows closely, with rates hovering around Rs 247,060 per kg. Kolkata is also witnessing a fall with silver currently trading at roughly Rs 246,540.
Gold Rates City-Wise
The following rates are as per 10 grams of gold.
Mumbai: Rs 152,180
Delhi: Rs 151,910
Bengaluru: Rs 152,300
Chennai: Rs 152,620
Hyderabad: Rs 152,420
Kolkata: Rs 151,970
Silver Rates City-Wise
The following rates are as per 1 kg
Mumbai: Rs 246,870
Delhi: Rs 246,440
Bengaluru: Rs 247,060
Chennai: Rs 247,590
Hyderabad: Rs 247,260
Kolkata: Rs 246,540
ALSO READ: Silver Tanks 10% On MCX, Gold Slides Rs 2,310 Amid Strong US Dollar
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