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Gold Prices Tank, Silver Falls in Early Trading, know more

A graph showing the recent decline in gold and silver prices, with 22-carat gold at ₹71,190 and 24-carat gold at ₹77,660 for ten grams, while silver prices stand at ₹96,900 per kilogram. The graph highlights fluctuations in precious metal values and market trends.

Gold

Gold prices saw a decline of ₹10 on Monday, with 22-carat gold selling at ₹71,190 for ten grams. The price of 24-carat gold also fell by ₹10, trading at ₹77,660 for ten grams, according to the GoodReturns website. Meanwhile, silver prices dropped by ₹100, with one kilogram of the precious metal priced at ₹96,900.

In major cities, the price of ten grams of 24-carat gold remained consistent, with Mumbai, Kolkata, and Hyderabad all reporting rates of ₹77,660. In Delhi, Bengaluru, and Chennai, prices were slightly higher, at ₹77,810, ₹77,660, and ₹77,660, respectively. For 22-carat gold, prices matched in Mumbai, Kolkata, and Hyderabad at ₹71,190, while Delhi recorded a price of ₹71,340, and Bengaluru and Chennai both had it at ₹71,190.

In terms of silver, the price of one kilogram remained steady in Delhi, Kolkata, and Mumbai at ₹96,900, while Chennai saw a higher price of ₹1,02,900.

US gold prices also eased on Monday amid expectations of a smaller interest rate cut following a surprisingly strong jobs report. Market participants are awaiting inflation data and insights from Federal Reserve officials for further direction.

As of 0030 GMT, spot gold slipped 0.1% to $2,650.79 per ounce, while US gold futures rose 0.1% to $2,670.20. Spot silver increased by 0.3% to $32.26 per ounce, and platinum rose by 0.2% to $989.92, with palladium gaining 1.1% to reach $1,022.92.

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