Gold and Silver Prices Decline

Gold prices, which had recently touched record highs, have eased in the latest session. Prices declined as investors moved towards profit booking. According to the GoodReturns website, as of 6:30 AM on Wednesday, the price of 24-carat gold per 10 grams stood at ₹1,33,850, marking a drop of around ₹1,500 compared to the same time yesterday. The price of ornamental gold also witnessed a sharp decline, falling to ₹1,22,690. Silver prices, too, softened slightly, with silver currently priced at ₹1,99,000 per kilogram (Gold, Silver Prices on Dec 17).

The decline in gold prices is attributed to profit booking by investors, along with positive signals emerging from ongoing peace talks between Ukraine and Russia, which have reduced demand for safe-haven assets like gold. Silver prices followed a similar downward trend. However, market analysts believe that this dip is only a short-term correction. With the weakness in the US dollar continuing, analysts suggest that gold prices have a strong chance of rebounding in the near future.

Gold Prices Across Cities (24K, 22K, 18K) 

Chennai: ₹1,34,720; ₹1,23,490; ₹1,02,990

Mumbai: ₹1,33,850; ₹1,22,690; ₹1,00,380

New Delhi: ₹1,34,000; ₹1,22,840; ₹1,00,530

Kolkata: ₹1,33,850; ₹1,22,690; ₹1,00,380

Bengaluru: ₹1,33,850; ₹1,22,690; ₹1,00,380

Hyderabad: ₹1,33,850; ₹1,22,690; ₹1,00,380

Vijayawada: ₹1,33,850; ₹1,22,690; ₹1,00,380

Kerala: ₹1,33,850; ₹1,22,690; ₹1,00,380

Pune: ₹1,33,850; ₹1,22,690; ₹1,00,380

Vadodara: ₹1,33,900; ₹1,22,740; ₹1,00,430

Ahmedabad: ₹1,33,900; ₹1,22,740; ₹1,00,430

Silver Prices (per kg)

Chennai: ₹2,10,900

Mumbai: ₹1,99,000

New Delhi: ₹1,99,000

Kolkata: ₹1,99,000

Bengaluru: ₹1,99,000

Hyderabad: ₹2,10,900

Vijayawada: ₹2,10,900

Kerala: ₹2,10,900

Pune: ₹1,99,000

Vadodara: ₹1,99,000

Ahmedabad: ₹1,99,000

Note: The above gold and silver prices are subject to frequent fluctuations in the market. Buyers are advised to recheck the prevailing rates at the time of purchase.