Gold and silver prices saw a sharp drop on Thursday, offering relief to buyers on Gudi Padwa, a day traditionally associated with fresh purchases of precious metals.
The fall comes amid profit booking by traders and weak physical demand. The correction in bullion prices has come as a breather after recent highs, just as festive buying picks up across the country.
According to bullion trackers, gold prices declined by more than ₹3,000 to ₹1,53,800 per 10 grams, while silver dropped by over ₹5,300 to ₹2,48,170 per kilogram.
In the global market, however, the trend was slightly positive. Spot gold edged up 0.4% to $4,835.55 an ounce in Singapore, while silver gained 0.7% to $75.87, Bloomberg reported.
Gold price today in India: Metro cities show slight variations
Gold rates remained largely aligned across major cities, with southern markets continuing to stay slightly higher than northern counterparts.
- Mumbai: ₹1,53,520 per 10 grams
- Delhi: ₹1,53,250 per 10 grams
- Bengaluru: ₹1,53,640 per 10 grams
- Chennai: ₹1,53,970 per 10 grams
- Hyderabad: ₹1,53,760 per 10 grams
- Kolkata: ₹1,53,320 per 10 grams
Chennai recorded the highest gold rate among metros, while Delhi remained on the lower side of the price band.
Silver price today: Chennai, Hyderabad lead the chart
Silver prices also reflected minor regional differences, though the overall trend remained stable across cities after the sharp drop.
- Mumbai: ₹2,47,720 per kg
- Delhi: ₹2,47,290 per kg
- Bengaluru: ₹2,47,920 per kg
- Chennai: ₹2,48,440 per kg
- Hyderabad: ₹2,48,110 per kg
- Kolkata: ₹2,47,390 per kg
Chennai and Hyderabad reported the highest silver rates, while Delhi and Mumbai remained slightly lower.
Note: These are average market rates. Actual prices may vary depending on local jewellers, making charges, and taxes.