In Hyderabad, both gold and silver prices experienced a slight drop on Monday. The price of 10 grams of 24-carat gold decreased by ₹10, settling at ₹1,56,590. Similarly, 10 grams of 22-carat gold also saw a ₹10 reduction, now priced at ₹1,43,540. Silver prices showed a minor decline too, with a ₹100 decrease per kilogram, bringing it to ₹2,84,900.
Market experts suggest that gold prices might strengthen due to the global stance of the United States on international policies and the analysis of worldwide political and economic developments. However, they predict that silver prices could continue to fall for some time. The policies of the US Federal Reserve, fluctuations in the dollar, and inflation are expected to impact the prices of both gold and silver.
Last week’s statistics reveal that on the Multi Commodity Exchange (MCX), gold prices surged, with futures increasing by ₹7,698, or 5.2%, within a week. In contrast, silver prices dropped by ₹15,760, nearly a 6% decline, indicating significant volatility in the silver market. Internationally, on the COMEX, gold prices rose by $234.7, about 5%, reaching $5,000 per ounce over the same period. Meanwhile, silver futures dropped by $1.63, or 2.08%. Experts believe that upcoming announcements from the Fed and key macroeconomic data will determine the future direction of the gold and silver markets.
