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?
-
Profit Booking: Investors cashed out after a sustained rally, especially following the Middle East tensions .
-
Strong Dollar & Fed Rate Pause: A relatively firm dollar and hawkish Fed tone reinforced the trend for metal sell-offs .
-
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.”
-
22K gold declined by ₹55–60 per gram; 24K gold slipped ₹60 per gram; 18K gold dropped ₹45 per gram .
-
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
-
Comex gold prices dipped amid reduced expectations for Fed rate cuts, reinforcing the down‑trend .
-
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:
-
Long‑term buyers: Today’s decline is a potential entry point
-
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:
-
24K gold must display hallmark “999” (99.9% pure)
-
22K gold shows “916” (91.6% purity)
-
Similarly, hallmark numbers: 23K–958, 21K–875, 18K–750
-
24K jewellery is rarely used; 18K and 22K are most common due to durability
Why Friday’s Drop Matters
-
Crosses ₹1 lakh per 10g again: Opportunities emerge amid corrections
-
Silver slump opens chance for bulk buyers and investors
-
Investor sentiment turns chart-friendly, refocusing on dollar and Fed trends
-
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.
Discover more from
Subscribe to get the latest posts sent to your email.