Gold Prices Ease Slightly After Record Surge; Silver Also Declines
Gold prices dip slightly on Wednesday after a record surge in Delhi, while silver also slips; both precious metals remain significantly higher over the past week.
Gold prices witnessed a slight decline in the retail market on Wednesday, August 26, after reaching record levels in Delhi’s bullion market a day earlier. Despite the marginal correction, gold and silver prices have continued to remain significantly higher over the past week.
On Tuesday, gold prices in Delhi’s bullion market increased for the fourth consecutive session. The price of 99.9% pure 24-carat gold jumped by ₹2,700 per 10 grams to reach ₹1,67,100 per 10 grams. On Monday, the same gold was priced at ₹1,64,400 per 10 grams.
Gold Price Today
According to Bullion.co.in, at around 6:30 am on Wednesday, 24-carat gold was priced at ₹1,63,430 per 10 grams, while 22-carat gold stood at ₹1,49,811 per 10 grams.
Gold has gained more than 3.18% over the past week, highlighting the strong upward trend despite Wednesday’s slight decline.
Chennai Records Highest Gold Price
Among major Indian cities, Chennai recorded the highest gold prices on Wednesday. The price of 24-carat gold stood at ₹1,63,610 per 10 grams, while 22-carat gold was priced at ₹1,49,976 per 10 grams.
In Delhi, 24-carat gold was available at ₹1,62,850 per 10 grams, while 22-carat gold stood at ₹1,49,279 per 10 grams.
Silver Prices Also Decline
Silver prices also witnessed a decline. According to data from the All India Sarafa Association, silver prices fell by ₹3,500 per kilogram on Tuesday to ₹2,50,000 per kg, compared with ₹2,53,500 per kg in the previous session.
On Wednesday, 999 fine silver was priced at ₹2,45,540 per kg, while 925 sterling silver stood at ₹2,27,125 per kg. Despite the recent correction, 999 fine silver has gained 3.24% over the past week.
Silver Rates Across Major Cities
On Wednesday, silver was priced at ₹2,44,670 per kg in Delhi, ₹2,45,090 in Mumbai, ₹2,45,810 in Chennai and ₹2,45,290 in Bengaluru.
Overall, while gold and silver prices have eased slightly in the retail market, both precious metals continue to remain on a strong upward trend compared with levels seen a week ago.
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