Gold and Silver Prices Decline on Stronger US Inflation Data
As reported by ndtvprofit.com, precious metals experienced further drops on Thursday due to a stronger US inflation report, a strengthening US dollar, climbing bond yields, and mounting anticipations of a US Federal Reserve interest rate increase.
MCX Gold futures with December delivery settled at Rs 1,36,225 per 10 grams after dropping 2.5% throughout the trading day. Silver futures with the same delivery closed at Rs 1,78,724 per kilogram after declining over 3% in the previous session.
Around 01:16 GMT on Friday, COMEX gold registered a 0.2% increase to reach $3,893 per ounce, whereas COMEX silver held steady at $50.065 per ounce.
Based on Bullion.co.in data referenced by ndtvprofit.com, domestic rates for 24K gold were recorded at Rs 1,36,820 per 10 gm, while silver was priced at Rs 1,79,560 per kg around 6:40 a.m. on Friday in India. The 24K gold prices across major metro cities show localized variations in the domestic market.
| City | 24K Gold Price (per 10gm) | 22K Gold Price (per 10gm) | Silver 999 Fine Price (per kg) |
|---|---|---|---|
| Chennai | Rs 1,36,970 | Rs 1,25,556 | Rs 1,79,760 |
| Hyderabad | Rs 1,36,790 | Rs 1,25,391 | Rs 1,79,520 |
| Bengaluru | Rs 1,36,680 | Rs 1,25,290 | Rs 1,79,380 |
| Mumbai | Rs 1,36,580 | Rs 1,25,198 | Rs 1,79,240 |
| Kolkata | Rs 1,36,390 | Rs 1,25,024 | Rs 1,79,000 |
| Delhi | Rs 1,36,340 | Rs 1,24,978 | Rs 1,78,930 |
In addition to 24K and 22K gold, 925 sterling silver stood at Rs 1,66,093 per kg in the domestic market.
Market pressure on bullion stems from changing expectations for central bank action in the United States. Stronger inflation readings alongside climbing bond yields have reinforced projections for a Federal Reserve rate hike in December, with further adjustments anticipated in March 2027.
Domestic bullion traders track these international COMEX shifts closely as local pricing adjusts directly to global futures movement. The losses across MCX contracts reflect this immediate transmission from overseas exchanges to domestic trading sessions.
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