- Retail gold prices in India stood at Rs 16,761 per gram for 24 karat.
- April gold futures on the MCX of India opened Rs 2,157 higher.
- Silver futures for May delivery opened at Rs 2,71,000 per kilogram.
Gold and silver prices climbed sharply on the Multi Commodity Exchange (MCX) on Wednesday as escalating Iran war pushed investors towards safe-haven assets.
April gold futures on the MCX of India opened Rs 2,157 higher, or 1.33%, at Rs 1,63,265 per 10 grams compared with the previous close of Rs 1,61,108. During the session, the contract rose as much as 1.60% to Rs 1,63,700 per 10 grams.
Silver futures for May delivery opened at Rs 2,71,000 per kilogram, up Rs 5,682 or 2.14% from the previous close of Rs 2,65,318. The contract touched an intraday high of Rs 2,72,248, marking a 2.61% gain.
Retail gold prices in India stood at Rs 16,761 per gram for 24 karat, Rs 15,364 per gram for 22 karat and Rs 12,571 per gram for 18 karat. The firmness in domestic bullion tracked global cues, with risk appetite remaining subdued amid the Iran war. Equity markets also came under pressure as investors pared exposure to riskier assets.
Gold, silver International markets
In overseas trade, spot gold rose 1.6% to $5,168.69 an ounce at 02:49 GMT. US gold futures for April delivery gained 1.1% to $5,178.40.
The rebound follows a sharp sell-off on Tuesday, when bullion slid more than 4% to its lowest level since February 20, pressured by a stronger dollar and concerns that persistent inflation could delay rate cuts.
Oil and gas prices also rose amid disruptions to energy flows from the region as the conflict widened.
Gold prices in major cities
City | 10 Gram | 100 Gram | 1 Kg
Chennai | 3,149 | 31,490 | 3,14,900
Mumbai | 2,949 | 29,490 | 2,94,900
Delhi | 2,949 | 29,490 | 2,94,900
Kolkata | 2,949 | 29,490 | 2,94,900
Bengaluru | 2,949 | 29,490 | 2,94,900
Hyderabad | 3,149 | 31,490 | 3,14,900
Kerala | 3,149 | 31,490 | 3,14,900
Pune | 2,949 | 29,490 | 2,94,900
Vadodara | 2,949 | 29,490 | 2,94,900
Ahmedabad | 2,949 | 29,490 | 2,94,900
Silver prices today
Quantity | Today | Yesterday | Change
1 gram | 294.90 | 295.00 | - 0.10
8 gram | 2,359.20 | 2,360.00 | - 0.80
10 gram | 2,949.00 | 2,950.00 | - 1.00
100 gram | 29,490.00 | 29,500.00 | - 10.00
1000 gm | 2,94,900.00 | 2,95,000.00 | - 100.00
