Market News
3 min read | Updated on February 13, 2025, 09:46 IST
SUMMARY
Gold prices dropped below $2,900 on Wednesday after US inflation hit 3% in January. However, the price recovered and went above $2,900 in early Thursday trading in Asia, due to uncertainty about trade policies and a weaker US dollar.
Gold and Silver Price Today (February 12): Gold slips to ₹86,660 after firm US inflation data | Image: Shutterstock
Gold prices slipped to ₹86,660 per 10 grams in early trade on Thursday, February 13, after the US inflation data dented hopes of a rate cut.
The precious metal slipped below $2,900 an ounce on Wednesday night in global markets after official data showed that US inflation rose to 3% in January. However, the metal recovered losses to surpass the $2,900 level in early Asian trade on Thursday, following trade policy uncertainty and the easing US dollar value. Spot gold edged up 0.50% to $2,945 per ounce in early Asian trade on Thursday.
In Delhi markets, 24K gold traded at ₹86,810 per 10 grams and 22K gold at ₹79,540, down by ₹10. The 24K Gold in Mumbai traded at ₹86,660 per 10 grams, and 22K gold at ₹79,390 per 10 grams.
City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
---|---|---|
Delhi | ₹79,540 | ₹86,810 |
Mumbai | ₹79,390 | ₹86,660 |
Chennai | ₹79,390 | ₹86,660 |
Kolkata | ₹79,390 | ₹86,660 |
Gold prices in Mumbai and other cities had declined by ₹710 to ₹86,670 per 10 grams on Wednesday, marking the first drop in price in nine days. The 22K gold shed ₹700 to ₹79,400 per 10 grams.
Trading in a tight range, silver price eased ₹100 to ₹99,400 per kg on Thursday. Weak demand from industrial users and coin makers weighed on the metal. However, firm global trends and a weak US dollar capped its losses. Spot silver was marginally up 0.25% to $32.86 per troy ounce in early Asian Trade on Thursday.
City | Silver Price (per kg) |
---|---|
Delhi | ₹99,400 |
Mumbai | ₹99,400 |
Chennai | ₹1,06,900 |
Kolkata | ₹99,400 |
Gold prices edged lower on Thursday after a ₹710 per 10 grams hit on the previous day. The metal had been rising since February 4 on safe-haven demand. Silver prices have remained flat in the past week due to weak industrial demand.
Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver Price (per kg) |
---|---|---|---|
Feb 13 | ₹79,390 | ₹86,660 | ₹99,400 |
Feb 12 | ₹79,400 | ₹86,670 | ₹99,500 |
Feb 11 | ₹80,100 | ₹87,380 | ₹99,500 |
Feb 10 | ₹79,800 | ₹87,060 | ₹99,500 |
Feb 8 | ₹79,450 | ₹86,670 | ₹99,500 |
Feb 7 | ₹79,310 | ₹86,520 | ₹99,400 |
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