Gold and silver prices saw a slight recovery today after last week’s sharp fall. Check latest 24K, 22K gold rates, silver price and MCX update.
After a steep decline last week, gold and silver prices witnessed a slight recovery in the domestic market today. The rebound comes after investors stepped in to buy at lower levels, supporting a mild upward trend in prices.
According to GoodReturns, 24-carat gold rose by ₹43 to ₹14,651 per gram, while 22-carat gold increased by ₹40 to ₹13,430 per gram. Silver prices, however, remained unchanged at ₹250 per gram, or around ₹2,50,000 per kilogram in the domestic market.
MCX Futures Market Update
Prices also strengthened in the futures market on the Multi Commodity Exchange of India Limited (MCX).
Gold August futures: ₹1,48,040 per 10 grams (firm tone)
Silver July futures: ₹2,36,490 per kg, up around 1.13%
also read:- Gold And Silver Prices Dip Slightly Amid Global Pressure,…
Gold Prices in Major Cities (per 10 grams)
Delhi: 24K ₹1,46,660 | 22K ₹1,34,450
Mumbai: 24K ₹1,46,510 | 22K ₹1,34,300
Kolkata: 24K ₹1,46,510 | 22K ₹1,34,300
Chennai: 24K ₹1,48,360 | 22K ₹1,35,990
Why Did Gold & Silver Fall Last Week?
Last week, precious metals saw a sharp correction in both retail and futures markets.
24K gold fell by nearly ₹5,228 per 10 grams in retail markets
MCX gold dropped by up to ₹2,750 per 10 grams
Silver declined significantly by over ₹10,000 per kg
The decline was mainly driven by expectations that the U.S. Federal Reserve would not rush into interest rate cuts.
When interest rates remain high, investors prefer bonds and bank deposits over gold, as they offer stable returns with lower risk.
Why Prices Recovered Today?
After the sharp correction, gold reached a relatively lower level, prompting investors to start fresh buying at discounted prices.
This increased demand triggered a mild recovery in both gold and silver prices today.
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