New Delhi saw a mixed bag in precious metals trading this week, with gold prices inching up by nearly 700 rupees while silver took a sharp dive of around 2,500 rupees. According to the India Bullion Jewellers Association (IBJA), 24-carat gold climbed to 1,52,765 rupees per 10 grams, marking a rise from last week’s 1,52,078 rupees.
The upward trend extended to other variants too. 22-carat gold moved from 1,39,303 rupees to 1,39,933 rupees per 10 grams, and 18-carat gold edged higher from 1,14,059 rupees to 1,14,574 rupees per 10 grams. This modest gain for gold contrasts sharply with silver’s performance, which slumped to 2,42,433 rupees per kilo from 2,44,929 rupees a week ago.
Throughout the week, both metals experienced volatility. In the spot market, 24-carat gold hit a high of 1,57,322 rupees on February 11 before settling at a low of 1,52,751 rupees on February 13. Silver peaked at 2,66,449 rupees per kilo on the same day but crashed to 2,42,433 rupees by week’s end.
Global markets mirrored this choppiness. On Comex, gold closed above 5,000 dollars at 5,046.30 dollars per ounce, while silver ended at 77.96 dollars per ounce. After significant rallies—gold up over 70% and silver over 140% in the past year—these minor adjustments signal emerging stability.
Investors are watching closely as these fluctuations could hint at broader economic shifts. With wedding seasons and festive demands on the horizon in India, market watchers anticipate steady demand to support prices. For now, the mixed trading underscores the unpredictable nature of commodities in a dynamic global landscape.