Gold, Silver Rates Surge: Check Prices in Mumbai, Chennai, Other Cities
Gold and silver prices have surged in India, with gold trading at Rs 98,450 per 10 gm and silver at Rs 113,160 per kg.
Gold Prices Surge Amid Global Uncertainty
Gold prices have surged in India, trading at Rs 98,450 per 10 gm on Monday, according to the India Bullion Association. This represents a rise of Rs 560 per 10 gm from the previous day’s close of Rs 97,890. In the last six months, the highest price that gold has soared to was Rs 100,470 on June 15.
The price of gold has gone as low as Rs 95,780 on June 28. The surge in gold prices can be attributed to global uncertainty and safe-haven demand.
Regional Prices of Gold
In New Delhi, the price of gold stood at Rs 98,110 per 10 gm, compared to Rs 97,550 per 10 gm on Friday. In Mumbai, the gold price was Rs 98,280 per 10 gm, against Rs 97,770 per 10 gm the previous day.
In Bengaluru, the rate of gold stood at Rs 98,350 per 10 gm, while in Kolkata, it was Rs 98,150 per 10 gm. The price of gold was the highest in Chennai, trading at Rs 98,560 per 10 gm.
Silver Prices Surge to Record High
Silver prices also surged in India, trading higher at Rs 113,160 per kg, compared to Rs 112,600 per kg on Friday. The surging silver prices can be attributed to global economic uncertainty and safe-haven demand.
In the United States, gold was trading higher at $3,359.20 an ounce. Aug. 5 futures for the yellow metal were trading 0.56% higher at Rs 98,015 according to the Multi Commodity Exchange.
Silver was trading higher at $38.50 in the United States on July 18. Sept. 5 futures for silver saw a 0.01% decline to stand at Rs 1,12,935 per kg.
Record High for Silver Futures
On Monday, MCX Silver futures for Sept. 5 hit a fresh record high of Rs 114,875 during trade. The silver futures for December have also hit a high of Rs 116,566, according to the Multi Commodity Exchange.
In conclusion, gold and silver prices have surged in India, with gold trading at Rs 98,450 per 10 gm and silver at Rs 113,160 per kg. The surge in prices can be attributed to global uncertainty and safe-haven demand.
