Gold-Silver Rates: Gold prices rise again today; silver also becomes costlier; check the rates in your city.
Gold-Silver Rates: Gold and silver prices in the country are seeing an upward trend today compared to yesterday. In Delhi, the price of gold is ₹14,853 per gram, while in Mumbai, the rate stands at ₹14,859 per gram.
Gold-Silver Prices Today: Today, Saturday, June 13, gold and silver prices in India's bullion market are rising following recent declines. Prices of these precious metals have surged again due to global fluctuations and increased demand from investors.
Today, the price of 24-carat pure gold is ₹1,48,580 per 10 grams. Meanwhile, the price of 22-carat gold—used for jewelry—ranges from ₹1,36,200 to ₹1,37,230 per 10 grams. Similarly, the price of 18-carat gold today is between ₹1,11,450 and ₹1,12,420 per 10 grams.
City-wise Gold Prices (per 10 grams)
Delhi - ₹1,49,320
Mumbai - ₹1,49,580
Kolkata - ₹1,49,380
Chennai - ₹1,50,020
Hyderabad - ₹1,49,820
Ahmedabad - ₹1,49,780
Patna - ₹1,48,910
Silver Prices Today
Silver prices have also seen a significant rise today. The price of silver is ₹260.10 per gram. Consequently, the price of one kilogram of silver is trading around ₹2,60,000.
Why did prices rise?
Hopes of averting a US-Iran conflict: Uncertainty in global markets has eased slightly after the US President halted planned military strikes on Iran and signaled a willingness to negotiate. This has restored investor confidence, triggering heavy buying of gold and silver futures on both international markets and the Indian Commodity Exchange (MCX).
Significant cut in base import price: The government has reduced the base import price of gold by $80 to $1,343 per 10 grams and lowered the base import price of silver by $276 per kilogram. This has made import valuations favorable for importers and large jewelers, thereby strengthening domestic market sentiment and boosting demand.
Buying at lower levels following a sharp decline—The Indian bullion market had recently witnessed a record drop in gold and silver prices. Whenever gold prices fall in this manner, investors and jewelers view it as an opportune moment to buy, leading to significant "dip buying" (purchasing at lower prices).
This causes prices to rise again.
Expectations of interest rate cuts—Speculation has intensified in global markets that the US Federal Reserve may soon cut interest rates. The anticipation of lower interest rates could weaken the dollar slightly; a weaker dollar typically drives up both global demand and prices for gold and silver, as they are considered safe-haven investments.
