- Gold and silver prices traded slightly lower in international markets on Monday.
- In international market, spot gold traded around $5,000 per ounce, while spot silver was below $80 per ounce.
- According to market data, 24-carat gold was priced at Rs 1,58,800 per 10 grams on Monday.
Gold and silver prices traded slightly lower in international markets on Monday in the wake of the ongoing US-Iran-Israel conflict.
In the international market, spot gold traded around $5,000 per ounce, while spot silver was below $80 per ounce, as investors assessed volatile oil prices, firm US dollar, and rise in bond yields.
According to market data, 24-carat gold was priced at Rs 1,58,800 per 10 grams on Monday. Meanwhile, the yellow metal was priced at Rs 1,58,580 in Kolkata. Both cities were ahead of the national capital, Delhi, where the 24-carat rate currently stands at Rs 1,58,520. Besides, 22k gold was available at Rs 1,45,900 per 10 grams.
Silver was quoted at Rs 2,59,240 per kg in Mumbai. This comes as crude oil prices surged after US strikes targeted Iran's energy infrastructure. In response, Iran struck several nations in the Gulf. The war has raised the demand for safe-haven assets. This comes less than a month after gold touched its all-time high of over Rs 1,80,000, while silver prices hit a record Rs 4,20,000.
Gold Prices In Major Cities (24K, per 10 gm)
Mumbai: Rs 1,58,800
Delhi: Rs 1,58,520
Chennai: Rs 1,59,260
Kolkata: Rs 1,58,580
Bengaluru: Rs 1,58,920
Hyderabad: Rs 1,59,050
(These rates do not include GST and making charges.)
Silver Prices In Major Cities (per kg)
Mumbai: Rs 2,59,240
Delhi: Rs 2,58,790
Chennai: Rs 2,59,990
Kolkata: Rs 2,58,900
Hyderabad: Rs 2,59,650
(These rates do not include GST and making charges.)
Bullion prices in India are influenced by international rates, import duties and the rupee-dollar exchange rate. This week, rising energy prices, mounting inflation concerns due to the Iran conflict have influenced the price of precious metals. The inflation concerns have reduced expectations that the US Federal Reserve or other global central banks will cut interest rates soon.
