Gold Silver Price Today 17 January 2024: Both Gold and Silver prices declined on the Multi Commodity Index on Wednesday. The yellow metal came under pressure after investors dialed back expectations on how soon the Federal Reserve Bank would cut the interest rates.
The average price of 10 gram of 22K Gold stood at ₹57,700 while the 24K gold prices stood at ₹62,950.
The rate of 10 grams of 24K gold in Chennai stood at ₹63,380, which was followed by Delhi and Jaipur where the gold costs ₹63,100.
The average price of 1 kg of silver stood at ₹75,900.
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹77,400 followed by Delhi and Mumbai where the metal was sold at ₹75,900
Delhi - ₹63,100
Chennai - ₹63,380
Mumbai - ₹62,950
Kolkata - ₹62,950
Bengaluru - ₹62,950
Delhi - ₹75,900
Chennai - ₹77,400
Mumbai - ₹75,900
Kolkata - ₹75,900
Bengaluru - ₹73,750
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.