Precious metals witnessed notable volatility on Tuesday, with silver recording a sharp gain while gold prices showed modest movements across major Indian cities. Buyers considering purchases in Delhi, Mumbai, Chennai, Hyderabad, and other urban centers found shifting rates influenced by global cues and rising seasonal demand.
According to updates from Jansatta, silver prices jumped significantly, climbing Rs 15,000 from the previous level to reach Rs 2,90,000 per kilogram in several key markets. This surge contrasted with more tempered movements in gold. On the Multi Commodity Exchange (MCX), gold futures eased 0.37 percent to Rs 1,54,224 per 10 grams, while silver futures advanced 1.47 percent to Rs 2,82,400 per kilogram.
Retail spot prices reflected these trends. Goodreturns data indicated 24-carat gold at approximately Rs 15,398 per gram. City-wise silver rates varied slightly due to local factors: in Delhi and Mumbai, 10 grams of silver stood at Rs 2,900, with 100 grams at Rs 29,000 and one kilogram at Rs 2,90,000. Chennai reported higher levels, with 10 grams at Rs 3,000, 100 grams at Rs 30,000, and one kilogram at Rs 3,00,000.
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Gold rates per gram for different purities also showed city-specific variations. In Jaipur, 24-carat gold was priced around Rs 15,359 per gram, 22-carat at Rs 14,080, and 18-carat at Rs 11,523. Lucknow quoted 24-carat at Rs 15,227, 22-carat at Rs 13,959, and 18-carat at Rs 11,424. Hyderabad listed 24-carat at Rs 15,213 per gram, alongside corresponding lower carat rates. Similar figures appeared in other centers including Pune, Ahmedabad, Nashik, Patna, Surat, and Kerala, typically ranging between Rs 15,200–15,380 for 24-carat gold.
In Delhi, 24-carat gold traded near Rs 15,228 per gram, 22-carat at Rs 13,960, and 18-carat at Rs 11,425. Mumbai and Chennai posted comparable retail levels, with Chennai showing slightly higher quotes for pure gold at around Rs 15,382 per gram.
The market movements come against a backdrop of global influences and domestic wedding season demand. Separately, jewelry stocks faced pressure following an appeal by Prime Minister Narendra Modi urging restraint in gold purchases for weddings over the next year, leading to declines in shares of companies such as Titan, Kalyan Jewellers, and Senco Gold.
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