KKN Gurugram Desk | Gold and silver markets saw a notable correction today, with prices retreating sharply amid profit-booking and a stronger U.S. dollar. If you’re planning to purchase bullion this Friday, here’s a comprehensive update on 22‑carat, 24‑carat, 18‑carat gold rates, and silver prices across India’s major cities.
Article Contents
Why the Price Dip?
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Profit Booking: Investors cashed out after a sustained rally, especially following the Middle East tensions .
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Strong Dollar & Fed Rate Pause: A relatively firm dollar and hawkish Fed tone reinforced the trend for metal sell-offs .
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Market Volatility: Brokerages suggest a short-term “sell on rise” strategy until broader stability returns .
Nation-wide Gold & Silver Rate Overview
| City | 22‑Carat (₹/10g) | 24‑Carat (₹/10g) | 18‑Carat (₹/10g) | Silver (₹/kg) |
|---|---|---|---|---|
| Delhi | 92,250 | 1,00,630 | 75,480 | 1,10,000 |
| Mumbai | 92,100 | 1,00,480 | 75,360 | 1,10,000 |
| Bengaluru | 92,100 | 1,00,480 | 75,360 | 1,10,000 |
| Chennai | 92,210¹ | 1,00,480 | 75,800 | 1,20,000 |
| Hyderabad | 92,100 | 1,00,480 | 75,360 | 1,20,000 |
| Kolkata | 92,100¹ | 1,00,480¹ | 75,360¹ | 1,10,000 |
| Bhopal | 92,150¹ | 1,00,530¹ | – | 1,10,000 |
| Indore | 92,150¹ | 1,00,530¹ | – | 1,10,000 |
¹ Based on data from the local “sarafa bazaar.”
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22K gold declined by ₹55–60 per gram; 24K gold slipped ₹60 per gram; 18K gold dropped ₹45 per gram .
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Silver prices fell by ₹2,000/kg, settling at ₹110,000 in most cities, with southern cities at ₹120,000/kg .
Global and Investment Context
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Comex gold prices dipped amid reduced expectations for Fed rate cuts, reinforcing the down‑trend .
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Silver, both industrial and precious, mirrored the slide, impacted by weak global demand and investor sentiment .
Should You Buy on Friday?
Experts advise that while prices have dipped, investor caution is advised:
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Long‑term buyers: Today’s decline is a potential entry point
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Short‑term traders: Watching global cues and volatility is key, as price rebounds can’t be ruled out
Hallmark & Purity: What Buyers Must Know
India’s Bureau of Indian Standards (BIS) hallmark system ensures purity:
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24K gold must display hallmark “999” (99.9% pure)
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22K gold shows “916” (91.6% purity)
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Similarly, hallmark numbers: 23K–958, 21K–875, 18K–750
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24K jewellery is rarely used; 18K and 22K are most common due to durability
Why Friday’s Drop Matters
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Crosses ₹1 lakh per 10g again: Opportunities emerge amid corrections
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Silver slump opens chance for bulk buyers and investors
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Investor sentiment turns chart-friendly, refocusing on dollar and Fed trends
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Regional silver premium might offer arbitrage chances
Friday’s drop in gold and silver prices offers a strategic buying window, especially for long-term investors and festive purchasers. With bullion still trending above the ₹1 lakh benchmark, staying updated and consulting local jewellers for latest rates, making charges, and hallmark assurances remains essential.
