If you have been planning to buy gold, today brings a bit of breathing room, because prices are holding steady across the country's biggest branded jewellers. Rates stayed flat at Tanishq, Malabar and Kalyan, and there was no movement at IBJA either. The lull comes as precious metals have been under pressure for several days. Here is a jeweller-by-jeweller, carat-by-carat look so you have the full picture before you shop.
Gold Prices at Tanishq
At Tanishq, 22 carat gold was priced at Rs 13,275 per 1 gram. That works out to Rs 1,06,200 for 8 grams, Rs 1,32,750 for 10 grams and Rs 13,27,500 for 100 grams. If you prefer higher purity, 24 carat gold stood at Rs 14,482 per 1 gram and Rs 1,44,820 per 10 grams. For those who lean towards lighter, more affordable jewellery, 18 carat gold was available at Rs 10,861 per 1 gram and Rs 1,08,610 per 10 grams.
Purity-Wise Rates at IBJA
Prices at IBJA were unchanged as well. On Sunday, 999 purity gold was priced at Rs 14,337 per 1 gram. Alongside this, 995 purity gold sold at Rs 14,279 and 916 purity gold at Rs 13,133 per 1 gram. Among the lower purities, 750 purity gold was priced at Rs 10,753 and 585 purity gold at Rs 8,387. These purity-based rates help buyers understand exactly how much they will pay for each grade of gold.
22K and 24K Gold at Malabar
At Malabar, 22 carat gold was available at Rs 13,230 per 1 gram and Rs 1,32,300 per 10 grams, while 24 carat gold cost Rs 14,433 per 1 gram and Rs 1,44,330 per 10 grams. Here, 22 carat gold was on offer at Rs 13,230 per 1 gram and Rs 1,32,300 per 10 grams. These rates apply in states such as Andhra Pradesh, Delhi, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal.
Gold Price at Kalyan
At Kalyan, 22 carat gold was priced at Rs 13,230 per 1 gram and Rs 1,32,300 per 10 grams. In other words, 22 carat rates are largely aligned across the big jewellers, making it easier for buyers to compare before making a purchase.
Why Precious Metals Are Under Pressure
According to Ponmudi R, CEO of Enrich Money, "Precious metals remained under pressure throughout the week, with both gold and silver declining amid renewed strength in the U.S. dollar and profit booking at higher levels." The performance of precious metals has been broadly weak over the past few days. Spot gold saw a sharp weekly decline of 1.5% to close around $4,100, while spot silver fell harder, dropping 4% in the week to below $60 per ounce. On the domestic front, MCX gold ended the week below Rs 1,43,500 and MCX silver closed below Rs 2.23 lakh per 1 kg.
The Dollar and Crude Oil Effect
The dollar softened slightly but still hovered near the 101 mark, ending the week on a broadly flat note around 100.9 against a basket of currencies. That firmness in the dollar kept bullion from building upward momentum. Crude oil prices, meanwhile, dropped on the last trading day of the week, yet US WTI Crude and Brent Crude still posted weekly gains of 4% and 5% respectively, holding around $71 per barrel and $76 per barrel. Crude oil prices continue to stay elevated, keeping a steady influence on how the broader market moves.
