Stories
Gold and Silver Prices Remain Steady in Delhi Amid Subdued Domestic Demand
- •Gold prices of 99.9 per cent purity remained flat at Rs 1,49,800 per 10 grams in the national capital.
- •Silver prices held steady at Rs 2,27,000 per kilogram amid muted demand from local jewellers and retailers.
- •Global spot gold traded marginally higher at USD 4,156.62 per ounce while silver rose over 2 per cent to USD 61.70 an ounce.
- •A stronger US dollar index capping the upside and easing crude oil prices influenced overall precious metal trends.
- •Analysts expect physical demand to surge during the peak festive months of October and November.
Key Questions Answered
Gold of 99.9 per cent purity quoted flat at Rs 1,49,800 per 10 grams, inclusive of all taxes, while silver remained steady at Rs 2,27,000 per kilogram in the national capital.
Domestic gold prices stayed steady by tracking a firm trend in overseas markets, where spot gold traded marginally higher at USD 4,156.62 per ounce and silver rose over 2 per cent to USD 61.70 an ounce. However, a stronger US dollar and easing crude oil prices capped further upside potential for the precious metals.
Market analysts indicate that gold is well-positioned to stabilise and catch strong tailwinds as clarity emerges on US inflation. Additional support is expected from traditional physical demand during the peak festive months of October and November, alongside ongoing central bank demand.
