On April 5, 2023, gold prices across India witnessed a notable decline as the Multi Commodity Exchange (MCX) reported a drop of over 2%. This downturn comes amid growing uncertainty in the global market, particularly due to investor concerns regarding potential retaliatory measures from China following recent tariff actions by the United States. As of 9:15 AM, the price for 24-carat gold reached ₹89,360 per 10 grams, while 22-carat gold was valued at ₹81,913 per 10 grams. Additionally, silver was trading at ₹87,720 per kilogram.
Precious Metal Prices in Major Cities
Let’s take a closer look at the gold and silver prices in several key cities on April 5.
Gold and Silver Prices in New Delhi
- Gold Bullion Rate: ₹89,050 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,410 per kg
- MCX Silver Rate: ₹87,431 per kg
Gold and Silver Prices in Mumbai
- Gold Bullion Rate: ₹89,200 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,560 per kg
- MCX Silver Rate: ₹87,431 per kg
Gold and Silver Prices in Hyderabad
- Gold Bullion Rate: ₹89,340 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,700 per kg
- MCX Silver Rate: ₹87,431 per kg
Gold and Silver Prices in Chennai
- Gold Bullion Rate: ₹89,460 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,810 per kg
- MCX Silver Rate: ₹87,431 per kg
Gold and Silver Prices in Kolkata
- Gold Bullion Rate: ₹89,080 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,440 per kg
- MCX Silver Rate: ₹87,431 per kg
Gold and Silver Prices in Bengaluru
- Gold Bullion Rate: ₹89,270 per 10 gm
- MCX Gold Rate: ₹88,850 per 10 gm
- Silver Bullion Rate: ₹87,630 per kg
- MCX Silver Rate: ₹87,431 per kg
Market Insights
The recent fluctuations in the prices of gold and silver highlight the impact of geopolitical tensions on market dynamics. Investors are advised to keep a close watch on these trends, especially as global economic conditions evolve.
For those looking to make informed decisions about investments in precious metals, understanding the local pricing variations can be crucial. Be sure to stay updated on the latest trends and insights in the precious metals market.
