Gold and Silver Rally: Rupee Weakness Meets Global Market Gains

Gold and silver prices in India moved higher on Tuesday, supported by gains in international bullion markets and continued weakness in the Indian rupee. Market participants are weighing improving geopolitical conditions against expectations that interest rates in the United States may remain elevated for a longer period. The combination of global uncertainty and currency fluctuations has continued to provide support to precious metal prices across domestic markets.

According to bullion market data, the benchmark gold price in India stood at approximately Rs 1,48,510 per 10 grams, while silver was trading around Rs 2,35,610 per kilogram. In international markets, spot gold was quoted near $4,188.91 per ounce during early trading in Singapore, while silver slipped marginally to around $64.94 per ounce. Analysts noted that investor demand for safe-haven assets remains resilient despite easing geopolitical tensions.

Among major Indian cities, Chennai recorded the highest 24-carat gold price at Rs 1,48,670 per 10 grams. Hyderabad and Bengaluru followed closely at Rs 1,48,480 and Rs 1,48,360 respectively. Mumbai reported 24-carat gold prices of Rs 1,48,240 per 10 grams, while Kolkata stood at Rs 1,48,050. New Delhi registered the lowest rate among the major metros covered, with gold trading at Rs 1,47,990 per 10 grams.

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For 22-carat gold, Chennai again led the chart at Rs 1,36,281 per 10 grams. Hyderabad recorded Rs 1,36,107, while Bengaluru was at Rs 1,35,997. Mumbai reported a rate of Rs 1,35,887, followed by Kolkata at Rs 1,35,713. In Delhi, 22-carat gold was available at approximately Rs 1,35,658 per 10 grams, reflecting a relatively narrow difference across major urban centres.

Silver prices also remained firm across the country. Mumbai recorded silver prices of Rs 2,35,180 per kilogram, while Delhi was slightly lower at Rs 2,34,780. Southern markets continued to command higher prices, with Chennai reporting Rs 2,35,870 per kilogram and Hyderabad quoting Rs 2,35,550. Bengaluru stood at Rs 2,35,370 per kilogram, while Kolkata reported silver prices of around Rs 2,34,870 per kilogram.

Market experts believe precious metals could remain volatile in the coming sessions as investors monitor global economic data, central bank policy signals and currency movements. Any changes in US interest rate expectations, inflation trends or geopolitical developments could influence investor sentiment and impact gold and silver prices both internationally and in the Indian market.

Also Read: Gold and Silver Prices Fall in India as Stock Market Rally Reduces Safe-Haven Demand