Gold and Silver Prices Recover Slightly in India Amid US Fed Rate Hike

Gold and silver prices in India saw a slight recovery on Thursday after falling sharply in the previous session. The US Federal Reserve's decision to raise its benchmark interest rate by 25 basis points, taking the target range to 3.75%-4%, was a key factor in this movement.

The Fed's move had an impact on precious metals globally, with spot gold rising over 1% to around $4,310 an ounce, while silver also gained.

In India, domestic gold and silver prices are influenced by international bullion prices, the rupee-dollar exchange rate, and local market conditions. The latest retail rates for 24K and 22K gold in major Indian cities are as follows:

Gold Prices in New Delhi: 24 karat gold was priced at ₹1,53,060 per 10 grams, while 22-karat gold was priced at ₹1,40,305 per 10 grams. Silver 999 Fine rate in New Delhi was ₹2,34,310 per kg.

Gold Prices in Mumbai: 24 karat gold was priced at ₹1,53,320 per 10 grams, while 22-karat gold was priced at ₹1,40,543 per 10 grams. Silver 999 Fine rate in Mumbai was ₹2,34,710 per kg.

Gold Prices in Bengaluru: 24 karat gold was priced at ₹1,53,440 per 10 grams, while 22-karat gold was priced at ₹1,40,653 per 10 grams. Silver 999 Fine rate in Bengaluru was ₹2,34,890 per kg.

Gold Prices in Kolkata: 24 karat gold was priced at ₹1,53,120 per 10 grams, while 22-karat gold was priced at ₹1,40,360 per 10 grams. Silver 999 Fine rate in Kolkata was ₹2,34,400 per kg.

Gold Prices in Hyderabad: 24 karat gold was priced at ₹1,53,560 per 10 grams, while 22-karat gold was priced at ₹1,40,763 per 10 grams. Silver 999 Fine rate in Hyderabad was ₹2,35,080 per kg.

Gold Prices in Chennai: 24 karat gold was priced at ₹1,53,770 per 10 grams, while 22-karat gold was priced at ₹1,40,956 per 10 grams. Silver 999 Fine rate in Chennai was ₹2,35,390 per kg.

Over the past year, gold has delivered strong returns, rising by 39.22%, while silver has recorded an even sharper increase of 85.49%.