Mixed Trends Noted for Gold and Silver on July 5, 2024
- Posted on July 5, 2024
- News
- By Arijit Dutta
- 115 Views
Gold prices dipped slightly while silver rose on July 5, 2024, in India. Delhi saw 24-carat gold at ₹73,629 per 10g, down ₹42. Silver increased by ₹320 to ₹90,200 per kg. Prices varied across major cities, reflecting ongoing market fluctuations.
India's gold and silver price trend was mixed up on Friday, 5th July, 2024 in almost all the cities. However, for gold prices slightly declined while for silver the prices went up a little.
In the national capital Delhi, the rate of 10 grams of 24-carat gold was ₹73,629, which was ₹42 lesser than the yesterday’s price. The price of 22-carat gold also came down to ₹6,744 from ₹6,782, a drop of ₹38. 4 per gram. Even so, gold prices are exhibiting an upward surge in the past one month although they drop slightly every day, that is 0. 9% increase.
Prices of silver, however, increased as evidenced by the following chart:The price of silver increased by ₹320 in Delhi and fixed at ₹ 90,200 per kilogram.
- For instance, in Mumbai, 10 grams of 24-carat gold was spot at ₹74,571, which was higher than the previous day rate of ₹73,341.
- Gold prices in Chennai were ₹73,846 for 10 grams which are slightly down from the price which was ₹73,986 yesterday.
- The gold rate in Kolkata was ₹73,556 for 10 grams and the previous rate was ₹72,911.
The price of silver was the same across all these cities and was fixed at ₹90,200 per kilogram.
The market of precious metals remains rather sensitive to numerous factors, which includes global demand, fluctuations in exchange rates, and geopolitics. It is recommended that investors and consumers have to be vigilant on these price fluctuations while carrying out their purchases.
In the futures market, gold October 2024 MCX futures at ₹72,854 per 10 grams, increased by 0. 18% increase from its current price of ₹89,805 per kg and silver September 2024 MCX futures were ₹92,340 per kg. An increase of 412% at the time of reporting was noted.
Of course, anyone interested in purchasing such products should first speak with financial professionals and monitor the market for fluctuations in the value of precious metals.
