Sharp Rise in Gold and Silver Prices

Gold and silver prices witnessed another significant rise in the latest trading session. On Monday, gold prices on the Multi Commodity Exchange (MCX) increased by nearly ₹1,400 per 10 grams, while silver prices rose by around ₹4,000 per kilogram. Declining crude oil prices and a weaker US dollar provided support to precious metals, contributing to the upward movement in domestic bullion markets.

According to the latest rates provided, 24-carat gold in Hyderabad is priced at ₹1,44,610 per 10 grams, while 22-carat gold costs ₹1,32,560. Vijayawada, Mumbai and Bengaluru recorded similar rates. In Delhi, 24-carat gold is priced at ₹1,44,760 and 22-carat gold at ₹1,32,710. Chennai recorded rates of ₹1,43,550 for 24-carat gold and ₹1,31,580 for 22-carat gold. Silver is trading at ₹2,04,900 per kilogram. Meanwhile, falling crude oil prices may ease inflationary concerns and influence expectations surrounding interest rates. Since gold does not offer interest income, higher interest rates can reduce its attractiveness among investors.

Note: Gold and silver prices are subject to frequent changes. Buyers are advised to verify the latest rates before purchasing.