Gold prices in Delhi fell for a second consecutive session on Tuesday, while silver moved higher. The price of 99.9% purity gold dropped ₹2,150 to ₹1,58,100 per 10 grams, according to the All India Sarafa Association.
Gold had closed at ₹1,60,250 per 10 grams on Monday. Silver, in contrast, rose ₹600 and ended at ₹2,41,100 per kilogram.
What happened to gold and silver prices
The latest movement kept gold under pressure in the Delhi bullion market, while silver recorded a modest gain. Silver had remained unchanged in the previous 2 sessions, on Monday and the preceding Friday.
Before that pause, silver had gained ₹5,000 on 3 September to close at ₹2,40,500 per kilogram. Its price was unchanged on 4 September and 7 September.
The difference between the 2 metals came as global markets showed a weaker tone. A weaker dollar was identified as a factor supporting precious metals, particularly silver.
Global market signals
Gaurav Garg, head of research at brokerage platform Lemon, said the weaker dollar was helping precious metals and supporting a recovery in silver. Market participants were also focused on upcoming US inflation data and expectations regarding Federal Reserve interest rates.
In international markets, spot gold was trading slightly lower at $4,404.44 per ounce. Spot silver was up 0.11% at $66.25 per ounce.
These global indicators formed the broader backdrop to the contrasting domestic moves in gold and silver. Gold declined in Delhi even as silver ed a limited increase.
MCX gold trading range
Gold ended almost flat on the Multi Commodity Exchange on Tuesday. The contract for 5 October delivery closed with a marginal gain at ₹1,52,605 per 10 grams.
Trading was volatile during the session. The contract reached an intraday high of ₹1,54,125 per 10 grams and an intraday low of ₹1,52,401 per 10 grams.
The MCX movement differed from the fall recorded in Delhi’s physical bullion market, where 99.9% purity gold settled at ₹1,58,100 per 10 grams.
What traders are watching
The next direction for precious metals remains linked to the dollar, US inflation data and expectations about Federal Reserve interest rates. These factors were being monitored by market participants as gold and silver moved differently in domestic and international trading.
# Key Tuesday prices
- 99.9% purity gold in Delhi: ₹1,58,100 per 10 grams
- Gold’s daily fall: ₹2,150 per 10 grams
- Silver in Delhi: ₹2,41,100 per kilogram
- Silver’s daily rise: ₹600 per kilogram
- MCX gold for 5 October delivery: ₹1,52,605 per 10 grams
Conclusion
Gold declined for a second straight session in Delhi, while silver recorded a modest rise. Global dollar movements, US inflation data and Federal Reserve rate expectations remain the key market signals highlighted alongside the latest prices.
Frequently Asked Questions
Q. What was the gold price in Delhi on Tuesday?
Gold priced at 99.9% purity closed at ₹1,58,100 per 10 grams.
Q. By how much did gold become cheaper?
Gold fell ₹2,150 per 10 grams compared with Monday’s closing price.
Q. What was the silver price?
Silver closed at ₹2,41,100 per kilogram after rising ₹600.
Q. Why was silver supported?
A weaker dollar was supporting precious metals and helping silver recover.
Q. What was the international spot gold price?
Spot gold was trading slightly lower at $4,404.44 per ounce.
Q. What was the MCX gold closing price?
Gold for 5 October delivery closed at ₹1,52,605 per 10 grams on MCX.
Q. Which factors were traders watching?
Market participants were watching upcoming US inflation data and expectations related to Federal Reserve interest rates.
