Gold Dips While Silver Rises Amid Global Market Volatility
On October 5, gold and silver prices experienced significant volatility amid global market uncertainty. The international market saw gains for both metals, with gold rising 0.06% to USD 4,164.80 per ounce and silver climbing 1.46% to USD 61.30 per ounce, according to Comex data.
In contrast, the domestic bullion market witnessed a mixed trend. Gold prices dropped sharply, opening around Rs 1.49 lakh per 10 grams, while silver prices surged to approximately Rs 2.26 lakh per kilogram. Variations in prices were observed across key Indian cities, with 24K gold priced between Rs 1,49,170 and Rs 1,49,320 per 10 grams, and silver ranging from Rs 2,34,900 to Rs 2,44,900 per kilogram.
Commodity expert Ajay Kedia noted that gold settled 0.91% higher at Rs 150,390 on the MCX, supported by a softer-than-expected US inflation report. This reduced expectations of a Federal Reserve rate hike in October, though December remains likely. Meanwhile, silver prices remained firm in the domestic market, trading at around Rs 2,26,770 per kilogram.
With gold and silver prices continuing to fluctuate, experts advise buyers to check the latest market rates before making any purchases.