The shine of gold and silver has faded for the second consecutive day today. After remaining stable for a day, the price of 24 carat gold in the capital Delhi has fallen by ₹ 1320 per ten grams and the price of 22 carat gold has fallen by ₹ 1210. Today their prices have fallen by ₹ 10 per ten grams. Silver has also lost its shine for the second consecutive day, falling by ₹7,100 per kg in these two days.
Gold prices by city
Let us know the price of 10 grams of 18 carat, 22 carat and 24 carat gold in 10 big cities of the country…
Delhi ₹1,56,580 ₹1,43,540 ₹1,17,470 Mumbai ₹1,56,430 ₹1,43,390 ₹1,17,320 Kolkata ₹1,56,430 ₹1,43,390 ₹1,17,320 Chennai ₹1,57,520 ₹1,44,390 ₹1,23,490 Bengaluru ₹1,56,430 ₹1,43,390 ₹1,17,320 Hyderabad ₹1,56,430 ₹1,43,390 ₹1,17,320 Lucknow ₹1,56,580 ₹1,43,540 ₹1,17,470 Patna ₹1,56,480 ₹1,43,440 ₹1,17,370 Jaipur ₹1,56,580 ₹1,43,540 ₹1,17,470 Ahmedabad ₹1,56,480 ₹1,43,440 ₹1,17,370
Silver has lost its shine for the second consecutive day
After remaining stable for a day, the shine of silver has faded for the second consecutive day. One kilogram of silver has become cheaper by ₹7,100 in two days. Today, on February 17, silver is being sold at ₹2,67,900 per kg in Delhi. Today its price per kilogram has decreased by ₹ 100. In other big cities, it is being sold at this price in Mumbai and Kolkata. At the same time, the price of one kilogram of silver in Chennai is ₹ 2,64,900, which means that among the four cities, silver is the least expensive in Chennai.
What do experts say?
Gold and silver prices are under pressure from profit-booking, while the market is also closely watching the US Personal Consumption Expenditure (PCE) data and Federal Open Market Committee (FOMC) meeting proceedings, which have slowed down their pace. According to news agency PTI, Pranab Mir, Vice President, EBG-Commodity and Currency Research, JM Financial Services Limited, said that there may be further consolidation in gold and silver prices going forward, but volatility will remain as the focus is shifting to US GDP data, Personal Consumption Expenditure (PCE) inflation data and commentary from Federal Reserve officials. He believes that bullion is undergoing consolidation due to lack of clarity among traders. Traders are divided on price direction and are looking for new fundamental triggers.
