Suryaa Business Desk: Gold prices in the domestic bullion market have experienced minor fluctuations ahead of the festive season. Following a recent decline from the Rs 1.5 lakh mark to the Rs 1.39 lakh range for 10 grams, prices saw a slight increase on Wednesday, November 4, due to international market developments. Conversely, silver prices have recorded a decline.
The price of 24-carat gold (10 grams) rose by Rs 10 to reach Rs 1,39,650. Similarly, 22-carat gold (10 grams) increased by Rs 10, trading at Rs 1,28,010. Meanwhile, silver prices decreased by Rs 100 per kilogram, settling at Rs 1,99,900.
Market analysts note that international geopolitical tensions, including conflicts involving the US-Iran, Russia-Ukraine, and Saudi-Houthi, previously drove gold prices to record highs as a safe-haven investment. Recent stabilization in international conditions contributed to the subsequent cooling of prices, which are now showing minor volatility.
In Hyderabad and Vijayawada, gold prices are consistent, with 24-carat gold at Rs 1,39,650 and 22-carat gold at Rs 1,28,010 per 10 grams. Similar rates were observed in Mumbai, Chennai, and Bengaluru. In Delhi, prices are slightly higher due to local taxes and transportation costs, with 24-carat gold at Rs 1,39,800 and 22-carat gold at Rs 1,28,160.
Variations in gold and silver prices across regions are attributed to differences in local supply and demand, state-imposed taxes, transportation charges, and decisions made by bullion associations. Buyers are closely monitoring market trends as festive demand continues.
