Gold and silver prices have recently shown a shift, influenced by the evolving trade dynamics between the United States and China. As investors pivot away from traditional safe-haven assets, the allure of riskier equities is becoming more prominent. The latest agreement between these two economic giants involves reducing tariffs by 115 percentage points, setting them at 30% for the U.S. and 10% for China for the next 90 days as they finalize trade details. Additionally, the inflation landscape in both the U.S. and India has taken a favorable turn.
Is Silver a Better Investment This Week?
Market expert Manoj Kumar Jain from Prithvifinmart Commodity Research suggests that silver may be a more attractive investment compared to gold at this moment. He notes that, due to its status as an industrial metal, silver currently enjoys stronger support, while gold remains vulnerable to ongoing geopolitical tensions, particularly the situation between Russia and Ukraine. Jain advises potential investors to avoid gold purchases for now and instead consider buying silver on dips around ₹95,800, with a stop loss set at ₹95,100 and a target price of ₹97,200.
Performance Overview of Gold and Silver
When analyzing long-term trends, gold has experienced a remarkable 30% increase in value over the past year. Since 2001, it has delivered a 15% CAGR, and since 1995, it has outpaced inflation by about 2-4%. This performance underlines gold’s historical resilience as a store of value.
Current Gold and Silver Prices
As of 2 PM on May 14, gold prices have dipped slightly. The MCX gold index is currently listed at ₹93,526 per 10 grams. Meanwhile, MCX silver prices have risen to ₹96,793 per kilogram. Here’s a snapshot of today’s rates:
- 24-Carat Gold: ₹93,900 per 10 grams
- 22-Carat Gold: ₹86,075 per 10 grams
- Silver (999 Fine): ₹96,980 per kilogram
City-Wise Gold and Silver Prices
Here’s a breakdown of gold and silver prices across major cities:
Kolkata
- Gold Bullion: ₹93,730 per 10 grams
- MCX Gold: ₹93,526 per 10 grams
- Silver Bullion: ₹96,800 per kg
- MCX Silver: ₹96,793 per kg
Mumbai
- Gold Bullion: ₹94,430 per 10 grams
- MCX Gold: ₹95,221 per 10 grams
- Silver Bullion: ₹95,120 per kg
- MCX Silver: ₹96,524 per kg
Hyderabad
- Gold Bullion: ₹94,620 per 10 grams
- MCX Gold: ₹95,221 per 10 grams
- Silver Bullion: ₹95,330 per kg
- MCX Silver: ₹96,524 per kg
Chennai
- Gold Bullion: ₹94,750 per 10 grams
- MCX Gold: ₹95,221 per 10 grams
- Silver Bullion: ₹95,460 per kg
- MCX Silver: ₹96,524 per kg
New Delhi
- Gold Bullion: ₹94,260 per 10 grams
- MCX Gold: ₹95,221 per 10 grams
- Silver Bullion: ₹94,960 per kg
- MCX Silver: ₹96,524 per kg
Bengaluru
- Gold Bullion: ₹94,500 per 10 grams
- MCX Gold: ₹95,221 per 10 grams
- Silver Bullion: ₹95,200 per kg
- MCX Silver: ₹96,524 per kg
With these insights, investors can make informed decisions in the precious metals market as dynamics continue to shift.
