NEW DELHI: Gold and silver opened strongly in domestic futures on Monday, driven by a softening dollar, expectations of a US Federal Reserve rate cut and a weaker rupee.Gold February futures traded at Rs 1,30,383 per 10 grams, up Rs 879 (0.68%), while silver March futures surged to a new peak of Rs 1,78,620 per kg, gaining Rs 3,639 in early trade.Silver price growth was supported by a weaker rupee and expectations of a US rate cut. Analysts expect the metal to maintain strong momentum amid global economic developments and currency fluctuations.On the international front, spot gold was slightly down at $4,221.68 per ounce by 0.2%, after hitting a near three-week high on Friday.US gold futures for December delivery rose 0.2% to $4,261.60 per ounce, while silver climbed 2.2% to a fresh high of $57.59 per ounce. Market experts expect gold and silver prices to remain volatile this week, with movements influenced by fluctuations in the dollar index, global financial markets and upcoming US Federal Reserve policy meetings.Gold recently touched five-week highs, while silver surged to record levels, driven by expectations of a rate cut in the US and profit-taking in the dollar index.“Safe-haven buying also emerged for precious metals after trading was halted in the CME due to overheating at its data center,” said Manoj Kumar Jain of Prithvifinmart Commodity Research, according to PTI. “However, optimism over a Russia-Ukraine peace deal limited gains in precious metals,” he added.
City-wise gold rates today:
Delhi
In Delhi, 24K gold is trading at Rs 13,063 per gram, 22K at Rs 11,975 per gram and 18K at Rs 9,801 per gram. Compared to yesterday, 24K gold rose by Rs 66, 22K by Rs 60, and 18K by Rs 49 respectively.
Bengaluru
Today in Bengaluru, 24K gold is priced at Rs 13,048 per gram, 22K at Rs 11,960, and 18K at Rs 9,786. The rates have increased by Rs 66 for 24K, Rs 60 for 22K, and Rs 49 for 18K since yesterday.
Mumbai
In Mumbai, 24K gold stands at Rs 13,048 per gram, 22K at Rs 11,960, and 18K at Rs 9,786. Compared to the previous day, 24K rose by Rs 66, 22K by Rs 60, and 18K by Rs 49.
Chennai
Chennai’s gold prices today are Rs 13,167 per gram for 24K, Rs 12,070 for 22K, and Rs 10,065 for 18K. The increases since yesterday are Rs 98 for 24K, Rs 90 for 22K, and Rs 70 for 18K.
Kolkata
In Kolkata, 24K gold is Rs 13,048 per gram, 22K gold is Rs 11,960 and 18K gold is Rs 9,786. Compared to yesterday, the rates have gone up by Rs 66 for 24K, Rs 60 for 22K and Rs 49 for 18K respectively.
Hyderabad
The gold prices in Hyderabad today stands at Rs 13,048 per gram for 24K, Rs 11,960 for 22K and Rs 9,786 for 18K. The prices have increased by Rs 66, Rs 60 and Rs 49 respectively since yesterday.
Jaipur
In Jaipur, 24K gold is trading at Rs 13,063 per gram, 22K at Rs 11,975 and 18K at Rs 9,801. The rates are up by Rs 66 for 24K, Rs 60 for 22K, and Rs 49 for 18K from the previous day.
Ahmedabad
Today in Ahmedabad, 24K gold is Rs 13,053 per gram, 22K gold is Rs 11,965 and 18K gold is Rs 9,791. Compared to yesterday, 24K rose by Rs 66, 22K by Rs 60 and 18K by Rs 49.
Bhubaneshwar
Bhubaneshwar’s gold rates are Rs 13,048 per gram for 24K, Rs 11,960 for 22K and Rs 9,786 for 18K. Compared to yesterday, marking rose by Rs 66, Rs 60 and Rs 49 respectively.
Pune
In Pune, 24K gold is priced at Rs 13,048 per gram, 22K at Rs 11,960 and 18K at Rs 9,786. The rates increased by Rs 66 for 24K, Rs 60 for 22K and Rs 49 for 18K since yesterday.
Kanpur
In Kanpur, 24K gold trades at Rs 13,063 per gram, 22K at Rs 11,975 and 18K at Rs 9,801. Compared to the previous day, 24K rose at Rs 66, 22K at Rs 60 and 18K at Rs 49.
