Gold vs Silver Tussle: Bullion Prices Vibrate as Global Conflicts and US Fed Trajectory Fuel Market Volatility:
The precious metals market is witnessing intense drama today as geopolitical friction and macroeconomic shifts pull gold and silver in opposite directions. With the ongoing conflict keeping global investors on edge, profit-booking has triggered mild corrections in gold futures, whereas silver continues its stellar winning streak for the third consecutive session. Market participants are closely monitoring the US Federal Reserve’s stance, as growing expectations suggest the central bank might not rush to raise interest rates anytime soon. According to the news agency IANS, this combination of global tensions and dovish monetary policy outlooks is causing sharp intraday fluctuations across the Multi Commodity Exchange (MCX) and retail markets alike.
MCX Trading Flash: Gold Slumps on Profit-Booking While Silver Surges
The Multi Commodity Exchange (MCX) painted a mixed picture during the early hours of Friday. Gold futures for August delivery opened weak at ₹1,43,882 per 10 grams, shedding ₹548 or 0.37% from its previous close of ₹1,44,430. By late morning, the sell-off deepened slightly, pushing the yellow metal down to ₹1,43,797 per 10 grams—a drop of 0.44%. Intraday charts show gold hitting a low of ₹1,43,771 and a high of ₹1,44,448.
Conversely, September silver futures outpaced the yellow metal significantly, defying the broader drag. The industrial asset surged by 0.84%, adding nearly ₹2,000 to peak at an intraday high of ₹2,32,339 per kg, before stabilizing around ₹2,30,790.
Retail Gold Rates in India: City-Wise Breakdown for 24K, 22K, and 18K
Retail prices across major metro cities exhibit distinct variation driven by local jewellery demand, state taxes, and transportation overheads. Chennai currently leads with the highest retail rates for the yellow metal.
Delhi & New Delhi: ₹14,394 (24K), ₹13,196 (22K), ₹10,800 (18K) per gram.
Mumbai: ₹14,379 (24K), ₹13,181 (22K), ₹10,785 (18K) per gram.
Chennai: ₹14,619 (24K), ₹13,401 (22K), ₹11,161 (18K) per gram.
Kolkata: ₹14,379 (24K), ₹13,196 (22K), ₹10,800 (18K) per gram.
Bangalore & Hyderabad: ₹14,379 (24K), ₹13,181 (22K), ₹10,785 (18K) per gram.
For a clearer overview of national averages, 10 grams of 24K gold is priced at ₹1,43,790, while 22K is priced at ₹1,31,810.
Silver Rates Today: Industrial Demand Pushes White Metal Higher
Silver continues to see strong domestic traction due to its dual appeal as an investment asset and a key manufacturing material. Nationally, the average price of silver rose marginally by ₹100 per kg, bringing the rate to ₹2,45,100 per kg (₹245.10 per gram).
Geographical pricing for silver also reflects localised divergence. In Chennai, Hyderabad, Kerala, and Coimbatore, silver is retailing at a premium price of ₹2,50,100 per kg. Meanwhile, buyers in Mumbai, Delhi, Kolkata, Bangalore, Lucknow, and Pune can purchase the white metal at ₹2,45,100 per kg. Analysts suggest that until geopolitical clarity emerges, the volatile tug-of-war between gold’s safe-haven status and profit-booking cycles will keep consumers and traders on high alert.
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