KKN Gurugram Desk | Gold prices witnessed a surge in Indian markets on January 16, 2025, with 24K gold trading at ₹80,230 per 10 grams in Delhi, marking a ₹130 increase. Similarly, 22K gold rose by ₹120 to ₹73,560 per 10 grams. A weaker US bond yield and stable inflation data from the US contributed to this rise, pushing gold to a one-month high in global markets.
Gold Price Updates Across Major Cities
Below is a breakdown of gold prices across key cities in India:
| City | 22K Gold (per 10 gm) | 24K Gold (per 10 gm) |
|---|---|---|
| Delhi | ₹73,560 | ₹80,230 |
| Mumbai | ₹73,410 | ₹80,080 |
| Chennai | ₹73,410 | ₹80,080 |
| Kolkata | ₹73,410 | ₹80,080 |
Silver Prices Surge to ₹93,600 per kg
Silver also experienced a price hike, with the white metal trading at ₹93,600 per kilogram in most cities. In Chennai, however, silver prices were higher, trading at ₹1,01,100 per kilogram. This increase is attributed to corrections in US bond yields and stable inflation expectations.
| City | Silver Price (per kg) |
|---|---|
| Delhi | ₹93,600 |
| Mumbai | ₹93,600 |
| Chennai | ₹1,01,100 |
| Kolkata | ₹93,600 |
Global Trends: Key Influences on Gold and Silver Prices
- Spot gold rose by 0.1% to $2,699 an ounce in early Asian trade, briefly breaching the $2,700 level.
- Spot silver gained 0.33% to $30.68 an ounce, trading within a range of $30.57 to $30.77.
The rally in precious metals was driven by expectations of rate cuts by the US Federal Reserve due to favorable inflation data and a dip in bond yields.
Weekly Comparison: Gold and Silver Prices
Gold prices in domestic markets breached the ₹80,000 per 10 grams mark this week, reflecting a steady upward trend. Silver also advanced during the same period, with global cues bolstering its appeal.
| Date | 22K Gold (per 10 gm) | 24K Gold (per 10 gm) | Silver Price (per kg) |
|---|---|---|---|
| Jan 16 | ₹73,410 | ₹80,080 | ₹93,600 |
| Jan 15 | ₹73,220 | ₹79,950 | ₹93,500 |
| Jan 14 | ₹73,410 | ₹80,080 | ₹92,500 |
| Jan 13 | ₹72,990 | ₹79,630 | ₹94,500 |
