Investors are skeptical about investing in gold and silver ahead of the release of US Non-Farm Payrolls payroll data. Not only this, this may also affect the US Federal Reserve’s stance of keeping interest rates stable. So on Friday itself, its impact was seen on the global gold and silver market which reached the bullion market of India.
Gold prices fell on Friday due to some uncertainty and profit booking in the market amid increasing election activities in the country. However, this fall in market prices ahead of Akshaya Tritiya is expected to increase demand, which may lead to further rise in gold prices in the coming days.
Gold and silver prices on MCX
We can understand the average price of gold and silver across the country from the MCX prices. The price of gold has come down to Rs 71,129 per 10 grams while the price of silver is unchanged at Rs 81,876 per kg.
There may be an increase in demand for gold next week because buying gold on the occasion of Akshaya Tritiya is considered auspicious in India. This may increase the demand for jewellery. Only 22 carat gold is used in jewellery.
What were the prices of gold and silver in which city?
There is a difference in the price of gold and silver according to the cities of the country. On Friday, the price of 22 carat gold opened at Rs 66,410 per gram in Delhi-Jaipur bullion market. Whereas in Ahmedabad it is Rs. 66,310 per 10 grams. A decline was seen in its price on Saturday morning and it reached Rs 10. And Rs 65,890 in Ahmedabad. 65,790.
Gold and silver prices in major cities
| City | Gold 22 carat (10 grams) | Gold 24 carat (10 grams) |
silver (per kilogram) |
| Delhi | 65,890 | 71,870 | 83,400 |
| Mumbai | 65,740 | 71,720 | 83,400 |
| Chennai | 66,140 | 72,150 | 86,900 |
| Kolkata | 65,740 | 71,720 | 83,400 |
| Lucknow | 65,890 | 71,870 | 83,400 |
| Ahmedabad | 65,790 | 71,770 | 83,400 |
