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Gold and silver price on January 3: 24k gold rate jumps ₹330 to ₹78,490 per 10 gram in Delhi amid weak rupee
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3 min read | Updated on January 03, 2025, 10:51 IST
SUMMARY
Gold prices have remained firm this week due to geopolitical tensions and a weak rupee making imports costlier. Gold has held above $2,600 an ounce in global markets, which is a major support for the precious metal in local markets.
Weak Indian rupee and geopolitical concerns supported gold prices today.
Gold prices strengthened by ₹330 per 10 grams in major Indian cities in early trade on Friday, January 3, due to geopolitical tensions in the Middle East.
A weak rupee, trading at all-time low levels against the US dollar, also bolstered gold prices in the domestic markets. Gold, priced in US dollars in the international market, is a hedge against currency depreciation. When the rupee depreciates, the value of gold in rupee terms increases, providing a hedge against currency depreciation.
Reports on the US mulling emergency plans to strike Iran’s nuclear facilities flared up geopolitical tensions in the Middle East.
Spot gold rose by 0.23% at $2,663 an ounce in early Asian trade. The metal hit a low of $2,656 an ounce in overnight trade.
Gold Price Today in India (January 3, 2024)
In Delhi markets, 24K gold prices rose by ₹330 to ₹78,490 per 10 grams and 22K gold to ₹71,960 per 10 grams. The 24K Gold in Mumbai traded at ₹78,340 per 10 grams and 22K gold at ₹71,810 per 10 grams.
Gold Price Today in Major Cities:
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | ₹71,960 | ₹78,490 |
| Mumbai | ₹71,810 | ₹78,340 |
| Chennai | ₹71,810 | ₹78,340 |
| Kolkata | ₹71,810 | ₹78,340 |
Silver Price Today in India (January 3, 2025)
Silver prices traded flat at ₹90,400 per kg in major Indian cities on Friday amid firm global trends and weak local demand. While a weak rupee is supporting the metal, lacklustre demand from industrial users is capping the gains.
Spot Silver rose by 0.18% to $29.60 an ounce in early Asian trade. The metal moved between $29.49 an ounce and $29.64 an ounce in overnight trade.
Silver Price Today in Major Cities:
| City | Silver Price (per kg) |
|---|---|
| Delhi | ₹90,400 |
| Mumbai | ₹90,400 |
| Chennai | ₹97,900 |
| Kolkata | ₹90,400 |
Comparison of Gold and Silver Prices This Week
Gold prices have remained firm this week due to geopolitical tensions and a weak rupee making imports costlier. Gold has held above $2,600 an ounce in global markets, a major support for the precious metal in local markets.
Silver prices have been corrected recently due to weak demand from local industry and coin makers.
Here’s a comparison of gold and silver prices from earlier this week:
| Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver Price (per kg) |
|---|---|---|---|
| Jan 3 | ₹71,810 | ₹78,340 | ₹90,400 |
| Jan2 | ₹71,510 | ₹78,010 | ₹90,400 |
| Dec 31 | ₹71,510 | ₹78,010 | ₹92,400 |
| Dec 30 | ₹71,340 | ₹77,830 | ₹92,500 |
| Dec 28 | ₹71,350 | ₹77,840 | ₹92,600 |
| Dec 27 | ₹71,260 | ₹77,740 | ₹91,700 |
| Dec 26 | ₹71,010 | ₹77,460 | ₹91,600 |
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