Gold and Silver Prices on January 16: 24K Gold Rate at ₹80,230 in Delhi; Check Rates Across Cities

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:

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.

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.