Gold and Silver Rate Today: Gold and silver prices fell sharply on Friday, falling by up to ₹6,000 in today’s trading.
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Gold Silver Rate Today 16 Jan: Gold and silver prices have declined in the domestic commodity market on Friday, 16 January. Selling pressure has increased among investors due to weakening of hopes of interest rate cut by the US Federal Reserve and reduction in geopolitical tensions. Gold weakened by Rs 721 this morning on Multi Commodity Exchange (MCX) and reached a low of Rs 142400 per 10 grams. That is, there has been a decline of about 49 percent. On the other hand, silver on MCX reached an intraday low of Rs 2,85,513 with a decline of Rs 6064 or 1.5 percent.
Pressure in the global market too
This pressure on gold and silver prices is being seen not only in the domestic market but also in the global market. US February gold futures fell by almost half a percent to $4,594.81 per ounce. Spot silver also fell by 0.8% to reach $91.6861 per ounce. Although earlier it had reached a record high of $93.57. Market experts say that uncertainty regarding US Federal policy and a slight decrease in demand for safe investments is leading to profit booking in precious metals. Investors are now keeping an eye on further signals.
Today’s gold rate in major cities of the country
According to Good Returns, 24 carat gold is trading at Rs 1,44,330 per 10 grams in Chennai today, while the price of 22 carat gold was recorded at Rs 1,32,300 per 10 grams. Meanwhile, in Mumbai, Kolkata, Bengaluru, Hyderabad, Pune and Kerala, 24 carat gold was recorded at Rs 1,43,400 per 10 grams, while 22 carat gold was trading at Rs 1,31,450 per 10 grams. In the national capital Delhi, the price of 24 carat gold was Rs 1,43,550 and 22 carat gold was Rs 1,31,600 per 10 grams. Whereas in Vadodara and Ahmedabad, 24 carat gold was recorded at Rs 1,43,450 and 22 carat gold was recorded at Rs 1,31,500 per 10 grams.
| City/Location | 24 Carat Gold ( ₹ per 10 grams) | 22 Carat Gold ( ₹ per 10 grams) |
|---|---|---|
| Chennai | 1,44,330 | 1,32,300 |
| Mumbai | 1,43,400 | 1,31,450 |
| Kolkata | 1,43,400 | 1,31,450 |
| Bengaluru | 1,43,400 | 1,31,450 |
| Hyderabad | 1,43,400 | 1,31,450 |
| Pune | 1,43,400 | 1,31,450 |
| Kerala | 1,43,400 | 1,31,450 |
| Delhi | 1,43,550 | 1,31,600 |
| Vadodara | 1,43,450 | 1,31,500 |
| Ahmedabad | 1,43,450 | 1,31,500 |
