India Gold and Silver Price Update for December 9, 2024
On Monday, 9th December 2024, gold and silver rates in India fell slightly. The 24-carat gold declined by ₹10 to be priced at ₹7,778.3 per gram. The 22-carat gold declined by ₹10 to be sold at ₹7,131.3 per gram. Silver prices fell by ₹100 per kilogram and were at ₹95,000. This translates into a weekly volatility of -0.72 for 24-carat gold, but the monthly movement is positive at 1.87 %.
Gold Rates Across Southern Cities
Gold prices across prominent cities in South India reflected a consistent downward trend.
Chennai: The gold rate for 24-carat gold is ₹77,631 per 10 grams, a drop from ₹77,921 yesterday and ₹77,361 a week ago.
Bangalore: The 24-carat gold price is ₹77,625 per 10 grams, decreasing from ₹77,915 yesterday and ₹77,355 last week.
Hyderabad: Hyderabad reported a rate of ₹77,639 per 10 grams, compared to ₹77,929 yesterday and ₹77,369 a week ago.
Visakhapatnam: The gold rate is ₹77,647 per 10 grams, falling from ₹77,937 yesterday and ₹77,377 last week.
Vijayawada: Prices in Vijayawada are ₹77,645 per 10 grams, down from ₹77,935 yesterday and ₹77,375 a week ago.
The steady decline highlights the uniformity in gold price adjustments across these regions, influenced by local and global factors.
Silver Prices in Key Southern Cities
Silver prices showed a similar declining trend across major South Indian cities, varying slightly depending on the region.
Chennai: Silver is priced at ₹1,02,600 per kilogram, a decrease from ₹1,03,800 yesterday and ₹1,02,100 last week.
Bangalore: The silver rate is ₹94,000 per kilogram, marginally down from ₹94,200 yesterday and ₹93,000 last week.
Hyderabad: Current silver prices stand at ₹1,03,200 per kilogram, falling from ₹1,04,400 yesterday and ₹1,02,700 last week.
Visakhapatnam: Silver is priced at ₹1,01,600 per kilogram, lower than ₹1,02,800 yesterday and ₹1,01,100 last week.
Vijayawada: Prices have dropped to ₹1,04,000 per kilogram from ₹1,05,200 yesterday and ₹1,03,500 a week ago.
The decline in silver prices reflects fluctuations in demand and broader market trends.
Factors Driving Precious Metal Prices
Gold and silver occur worldwide based on global demand, currency fluctuations, interest rates, and government policies. Political and economic factors also determine Precious Metal’s performance in the international market. Industry specialists and jewelers usually consider such indicators to forecast specific shifts or modify operational prices.
