Market News
3 min read | Updated on January 15, 2025, 09:57 IST
SUMMARY
In Delhi markets, 24K gold prices fell by ₹130 to ₹80,100 per 10 grams, while in Mumbai the yellow metal declined ₹130 to ₹79,950 per 10 grams. Silver prices tanked by ₹2,200 to ₹92,400 per kg.
A strong US dollar and weak local demand impacted gold prices today.
Gold prices eased by ₹130 per 10 grams in major Indian cities on Wednesday due to weak domestic demand. The 24K gold traded at ₹79,950 per 10 grams in the early session amid expectations that the US Federal Reserve may halt its rate-cutting cycle this year.
US bond yields stayed above 4.7%, while the US dollar traded near 109.25, which also impacted the non-yielding precious metal.
Spot gold declined by 0.23% to $2,671 an ounce in early Asian trade. The metal moved between $2,669 an ounce to $2,678 an ounce in early trade.
In Delhi markets, 24K gold prices fell by ₹130 to ₹80,100 per 10 grams and 22K gold by ₹120 to ₹73,440 per 10 grams. The 24K Gold in Mumbai declined ₹130 to ₹79,950 per 10 grams, and 22K gold to ₹73,290 per 10 grams.
City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
---|---|---|
Delhi | ₹73,140 | ₹80,100 |
Mumbai | ₹73,290 | ₹79,950 |
Chennai | ₹73,290 | ₹79,950 |
Kolkata | ₹73,290 | ₹79,950 |
Silver prices tanked by ₹2,200 to ₹92,400 per kg in the early session on January 15 due to weak demand from industrial users and coin makers. A strong US dollar also hit its appeal as a hedge against inflation.
Spot silver dropped by 0.35% to $29.75 an ounce in early Asian trade. The metal moved between $29.75 an ounce and $29.90 an ounce in early trade.
City | Silver Price (per kg) |
---|---|
Delhi | ₹92,400 |
Mumbai | ₹92,400 |
Chennai | ₹99,200 |
Kolkata | ₹92,400 |
Gold prices surrendered its gains on Wednesday due to weak global cues and waning hopes of a rate cut by the US Fed amid the expected tariff war by US President-elect Donald Trump. A strong US dollar and weak local demand have triggered selling by investors after recent gains.
Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver Price (per kg) |
---|---|---|---|
Jan 15 | ₹73,220 | ₹79,950 | ₹92,400 |
Jan 14 | ₹73,410 | ₹80,080 | ₹94,600 |
Jan 13 | ₹72,990 | ₹79,630 | ₹93,400 |
Jan 11 | ₹73,000 | ₹79,640 | ₹93,500 |
Jan 10 | ₹72,610 | ₹79,210 | ₹92,400 |
Jan 9 | ₹72,260 | ₹78,830 | ₹92,400 |
Jan 8 | ₹72,250 | ₹78,820 | ₹92,600 |
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