Gold and silver prices Justified a marginal change in the major Indian cities

Gold prices in India rose slightly on July 13, 2024, while silver saw a minor decrease. Delhi reported 24-carat gold at ₹74,989 per 10 grams and silver at ₹92,100 per kg. Prices varied across major cities, reflecting market fluctuations.

From July 13, 2024, the precious metal markets in India saw a little fluctuation in prices; gold rose a little bit, but the prices of silver fell slightly. 24 carat gold increased its price by ₹975 and was available for ₹7,498. From the earlier levels of ₹17 per gram, gold purity of 24-carat jumped to ₹23 per gram and 22-carat gold rose by ₹893 to ₹6,869 per gram. On the other hand, silver lost ₹290 and closed at ₹ 92,100 per kilogram.

In Delhi, the capital city of the country, 10 grams of pure or 24-carat gold was sold at ₹74,989 as compared to ₹73,705 it was sold yesterday. In Delhi, the price of silver remained almost in line with the national average, which was at ₹ 92,100 per kg.

Both the metropolises of Mumbai and Kolkata had the same gold price, where 10 grams of the 24 karat gold was sold for ₹74,190. This is slightly lower than what was recorded in the previous day at a rate of ₹74,286 in Mumbai. While conducting the survey, both cities were found to be in sync with the national silver price of ₹92,100 per kg.

In Chennai, the gold prices have come down slightly and 10 grams of 24 carat gold is available for ₹74,699 compared to yesterday’s ₹74,722. Silver in Chennai was slightly cheaper than in Mumbai at ₹92,010 per kg.

The weekly trend reveals a 1. an increase of 12% in 24-carat gold prices and on a monthly basis the gold prices have shown a slight decrease of 0. 35%. These fluctuations are due to a number of factors like global demand, value of currency, interest rates, governments policies among others.

In the futures market, gold of August-2024 on MCX was trading at ₹ 73,285 per 10 grams, up by 0. 022%. Silver futures for March 2025 were also up by a relatively greater extent of 0. 531 per cent more than aluminium and was available at ₹98,471 per kg.

Also Read: Prices of gold have reduced and the prices of silver have also slightly reduced

Analysts have suggested that investors should monitor the global fundamentals and geopolitical events that persist to have an impact on the precious metal price in India.