Gold and silver prices rose sharply this week after early weakness, with silver seeing the biggest jump across domestic and global markets.
Key Highlights
- Silver became costlier by ₹15,399 per kg on MCX in one week.
- Gold rose by ₹3,246 per 10 grams during the same period.
- MCX gold closed at ₹1,47,365 per 10 grams.
- Silver closed at ₹2,37,499 per kg on MCX.
- Delhi gold rate: ₹14,688 for 24K, ₹13,465 for 22K.
Gold and silver prices witnessed a sharp recovery this week after seeing pressure in the initial trading sessions. According to market data, silver recorded the biggest jump, rising by ₹15,399 per kg in just one week, while gold became costlier by ₹3,246 per 10 grams.
On MCX, gold closed at ₹1,47,365 per 10 grams, while silver closed at ₹2,37,499 per kg. In comparison, on June 26, gold had closed at ₹1,44,119 per 10 grams and silver at ₹2,22,100 per kg. This shows strong buying momentum in both precious metals during the week.
In the international market too, gold and silver prices gained sharply. COMEX gold closed at $4,187.30 per ounce, while silver ended at $62.815 per ounce. Experts say weak US jobs data supported precious metals, while expectations around the Federal Reserve’s interest rate policy kept the dollar movement in focus.
Silver is also an industrial metal, which makes its price more sensitive to global demand, economic signals and manufacturing activity. This is why silver often sees sharper movement compared to gold.
In major Indian cities, silver prices remained high. Silver was quoted at ₹2,50,000 per kg in Delhi, Mumbai, Kolkata and Bengaluru, while Chennai and Hyderabad saw rates around ₹2,60,000 per kg.
Gold prices also remained firm across cities. In Delhi, 24-carat gold was priced at ₹14,688, 22-carat at ₹13,465 and 18-carat at ₹11,020. In Mumbai, Kolkata, Bengaluru and Hyderabad, 24-carat gold stood at ₹14,673, while 22-carat gold was priced at ₹13,450.
Buyers planning to purchase jewellery or invest in gold and silver should check live local rates before visiting the market, as prices may vary by city, purity, making charges and taxes.
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