Gold edges higher while silver remains strong; investors track global tensions and market cues
Highlights
- Gold prices remained firm across major Indian cities on July 4.
- 24-carat gold traded around ₹14,701 per gram in most cities, while Chennai quoted the highest rates.
- Silver prices increased marginally to ₹250.10 per gram or ₹2.50 lakh per kg.
- Global geopolitical tensions and international market trends continue to influence precious metal prices.
- Experts say gold is likely to remain volatile as investors monitor global economic developments.
New Delhi, July 4: Gold prices remained firm across major Indian cities on Saturday, while silver continued its upward trend, reflecting cautious investor sentiment amid global economic uncertainty and geopolitical developments.
According to the latest market rates, 24-carat gold was priced at around ₹14,701 per gram in cities such as Mumbai, Bengaluru, Hyderabad and Kolkata. In Delhi, the price stood slightly higher at ₹14,716 per gram, while Chennai recorded the highest rate at ₹14,957 per gram.
Similarly, 22-carat gold was available at around ₹13,476 per gram in most cities, with Delhi quoting ₹13,491 per gram and Chennai at ₹13,701 per gram. The 18-carat variant traded close to ₹11,026 per gram across several metros.
Silver also remained strong in the domestic market. The metal was priced at ₹250.10 per gram, or ₹2,50,100 per kilogram, registering a marginal increase from the previous day. Chennai, Hyderabad and Kerala continued to report higher silver prices than most other cities.
The precious metals market has remained volatile in recent weeks as investors closely watch developments in global financial markets. Ongoing geopolitical tensions, movements in the US dollar, central bank policies and expectations around interest rates continue to shape demand for safe-haven assets like gold.
On the Multi Commodity Exchange (MCX) earlier this week, gold futures witnessed some profit-booking after recent gains, while silver futures outperformed and extended their rally. Analysts believe the two metals may continue to see fluctuations in the near term as traders respond to fresh global economic data and international developments.
For Indian consumers, gold prices are determined by a combination of international bullion prices, currency exchange rates, import duties, GST and local demand. Jewellery purchases during festivals and the upcoming wedding season could also influence domestic prices in the coming months.
While gold remains a preferred long-term investment and hedge against inflation, financial experts advise buyers to monitor daily price movements before making large purchases, especially in a volatile global market.
