Gold and silver rates in India rose marginally on Thursday after the Reserve Bank of India on Wednesday also debunked reports of gold sale stating there is no change in the physical stock of gold, which remains unchanged at 880.52 tonnes.
The clarification from the Reserve Bank of India (RBI) comes following reports that the RBI may have sold gold amounting to approximately USD 12 billion to shield its foreign-currency reserves from the impact of the ongoing conflict in the Middle East
Elevated oil prices continue to fuel inflation concerns, limiting gold's safe-haven appeal as traders increasingly price in the possibility of tighter monetary policy, analysts told PTI.
The gold rate in India on Friday is Rs 1,59,040 per 10 gms while the silver rate in India was Rs 2,63,910 per 1 kg, according the Bullions website.
In the international market, spot gold rose 0.6% to $4,460.20 an ounce as of 11:45 a.m. in Singapore. Silver climbed 0.8% to $73.34 an ounce, reported Bloomberg.
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Gold Price Today
In Mumbai, the financial heart of the country, 24-carat gold is retailing at approximately Rs 1,58,900 per 10 grams. Kolkata follows a similar trend, with its gold rate reported at Rs 1,58,690. Both cities are ahead of the national capital, Delhi, where the 24-carat rate currently stands at Rs 1,58,630 according to Bullions website.
The southern markets continue to record the highest figures in the country. Chennai leads the metros with a peak rate of Rs 1,59,360 while Hyderabad and Bengaluru follow closely at Rs 1,59,150 and Rs 1,59,030 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. The current silver rate in Mumbai is Rs 2,64,020 per kg. In the national capital, Delhi, silver is keeping pace with Mumbai, currently priced at Rs 2,63,560 per kg, according to Bullions website
Chennai and Hyderabad are seeing silver trade at approximately Rs 2,64,780 and Rs 2,64,430 per kg, respectively. Bengaluru follows closely, with rates hovering around Rs 2,64,220 per kg. Silver rates in Kolkata are currently trading at roughly Rs 2,63,670.
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