Gold and silver prices have continued to witness fluctuations amid the mixed geopolitical developments taking place in West Asia. Over the recent weeks, gold and silver prices have occasionally risen, while witnessing a continuous decline since the war in Iran began on February 28.
As per the latest available market data, gold in some cities of the country is trading at Rs 152,360 per 10 grams, while 22-carat gold also edged up by Rs 10 to Rs 139,660 per 10 grams.
The prices in the southern parts, including Chennai, have come down despite the peace negotiations in Islamabad. In major metro cities, the trend remains aligned, while a few minor regional variations are also noted in the price of 24-carat gold.
Similarly, 22-carat gold was priced at Rs 139,660 in Mumbai, Kolkata, Bengaluru, and Hyderabad, while Chennai reported a higher rate of Rs 141,260. In Delhi, the price stood at Rs 13,981 per 10 grams.
Besides, silver prices also registered a modest increase, witnessing a jump of Rs 100. The white metal was priced at Rs 260,100 per kilogram in Delhi, Mumbai, and Kolkata, while Chennai saw higher levels at Rs 265,100 per kilogram, maintaining its consistent premium over other cities.
Although prices in the global markets surged on Friday, they went up only due to the weakening position of the US dollar on a temporary two-week truce between the US and Iran. Though markets remain largely cautious as investors continue to evaluate the sustainability of the ceasefire and its broader implications for interest rates and global liquidity.
Over the past three to four weeks, the defence and energy sectors have become a new hotspot of investments, with investors cashing in on the Iran and US war.
While experts believe that the Israeli side is less likely to accept a full-fledged truce with Iran and Lebanon, concerns over the closure of the Strait of Hormuz are likely to play a decisive factor in the coming days.
Follow us
