Gold Prices Rise Slightly on 26 October Amid Market Fluctuations
Gold and silver prices see a modest increase today, rebounding from recent lows across major Indian cities.
24K gold price in Delhi rises to ₹142,300 per 10 grams.
Silver prices increase to ₹196,330 per kg in New Delhi.
International gold prices hit a three-month low amid inflation concerns.
On 26 October, gold and silver prices experienced a slight uptick in the domestic market, recovering from previous declines. The rate for 24K gold rose by 0.21%, reaching ₹142,810 per 10 grams, while silver saw a 0.36% increase, priced at ₹197,300 per kg compared to the previous day.
This rise in domestic prices comes in the context of international market fluctuations, where gold recently fell to a three-month low. The decline was attributed to rising energy costs that heightened inflation fears and solidified expectations of sustained high interest rates from the US Federal Reserve ahead of their upcoming meeting.
In the international arena, spot gold dropped 0.6% to $3,998.49 an ounce, marking its first fall below the $4,000 threshold since mid-July. Over the past week, gold has declined by 4%, indicating the worst weekly performance since June. Meanwhile, US gold futures for December delivery settled at $4,007.90 per ounce, down by 1.3% as reported by CNBC.
In India, the latest gold and silver prices for major cities on 26 October are as follows: In New Delhi, 24K gold is priced at ₹142,300 per 10 grams, while 22K gold is at ₹130,442. Silver 999 Fine is available for ₹196,330 per kg. In Mumbai, the rates are slightly higher, with 24K gold at ₹142,540 and silver at ₹196,670. Bengaluru also shows similar trends, with 24K gold priced at ₹142,650.
Looking ahead, market analysts are closely monitoring the global economic indicators and upcoming Federal Reserve meetings, which may significantly influence gold and silver prices in the coming weeks. Investors are advised to stay informed about market trends as the festive season approaches, which typically sees increased demand for gold and silver in India.
