Gold Slips, Silver Steals the Spotlight

Gold prices dipped slightly in the domestic bullion market on Wednesday, while silver surged by ₹1,000 per kg. Across most markets, 24-carat gold traded between ₹79,780 and ₹79,630 per 10 grams, while 22-carat gold ranged from ₹73,140 to ₹72,990 per 10 grams. In contrast, silver reached ₹1,02,100 per kg in the Delhi bullion market.

In Delhi, 24-carat gold traded at ₹79,780 per 10 grams, with 22-carat gold priced at ₹73,140. Meanwhile, in Mumbai, 24-carat gold sold at ₹79,630 per 10 grams, while 22-carat was at ₹72,990 per 10 grams. The slight drop in gold prices reflects overall market trends and investor caution.

Ahmedabad followed a similar pattern, with 24-carat gold priced at ₹79,680 and 22-carat at ₹73,040 per 10 grams. Other major cities like Chennai and Kolkata also saw 24-carat gold trading at ₹79,630 per 10 grams, and 22-carat gold remained steady at ₹72,990 per 10 grams.

While gold remained under pressure, silver outperformed, highlighting a shift in investor sentiment. The rise in silver prices, especially in Delhi, suggests increased demand for the metal, possibly due to its industrial use and growing appeal as an alternative investment. The fluctuation in gold and silver prices indicates a broader trend of market volatility as investors seek safety in different assets amid economic uncertainty.

Silver’s strong performance could signal a trend in the coming days, while gold might face further downward pressure.