Gold, Silver Price Today:Thursday was a bullish day for the Indian bullion market. A rise was seen in the prices of both gold and silver. The price of gold rose for the third consecutive day and reached close to Rs 90,000 per 10 grams. Whereas silver strengthened for the fourth consecutive day and reached the level of Rs 97000 per kg. On Thursday, an increase of Rs 500 per ten grams was seen in the price of gold. At the same time, the price of silver increased by Rs 700 per kg. According to traders, continuous buying by jewelers and firm trend in international markets boosted the rise in gold prices.
Gold and silver prices rose in Delhi
In Delhi’s bullion market, the price of gold increased by Rs 500 to Rs 80,900 per 10 grams. Whereas in the last trading session it was at Rs 80,400 per 10 grams. In the last three consecutive trading sessions, the price of gold increased by about Rs 2,000. The price of gold with 99.5 percent purity also increased by Rs 500 to Rs 80,500 per 10 grams, which was Rs 80,000 on Wednesday. At the same time, the price of silver remained rising for the fourth consecutive day. On Thursday it jumped by Rs 700 to Rs 97,000 per kg. Whereas in the last trading session on Wednesday it was at Rs 96,300.
Also read: LIC Bima Sakhi: How will Bima Sakhi be recruited in LIC? full details
mcx andHow was the trend in the international market?
On the Multi Commodity Exchange, the price of future gold for delivery in February 2025 was trading at Rs 78,888 per 10 grams, down by Rs 114 or 0.14 percent. Market analysts said that gold futures prices fell due to weak trend in global markets. The price of future silver for March 2025 delivery was trading at Rs 96,222 per kg, up by Rs 420, or 0.44 per cent. Market analysts said that silver futures prices rose due to buying of fresh deals by traders due to the strong trend in the domestic market.
Talking about the international market, the price of future gold in Comex was trading at $ 2,747 per ounce with a decline of $ 9.70 per ounce or 0.35 percent. Whereas silver was trading rapidly.
Jatin Trivedi, Commodity Currency Vice President and Research Analyst, LKP Securities, said that gold traded in a volatile range and minor profit-booking was seen at higher levels. Spot gold prices in Comex faced resistance around $2,720 to $2,725, while on MCX there is resistance around Rs 79,000.
Manav Modi, Analyst (Commodity Research), Motilal Oswal Financial Services Limited, said, “Gold crossed $ 2,700 after the inflation data in Wednesday’s session.” China’s central bank once again increased its gold reserves. Doing this has also strengthened the belief. Modi said that any change in expectations of interest rate cut could increase volatility in prices. “Traders are now focusing on US economic data including Producer Price Index (PPI) and weekly unemployment claims,” said Saumil Gandhi, Senior Analyst – Commodity at HDFC Securities. Gandhi said that apart from this, the US Federal Reserve and The monetary policy of the European Central Bank (ECB) is also likely to affect bullion prices.
