Gold price today 25 October: Yellow metal trades at Rs 48,048/10 gm, check price in Delhi, Mumbai & Chennai
The price of 22-carat gold was up by Rs 373 to Rs 44,012/10 gm from the previous day's rate of Rs 43,639/10 gm
Due to growing domestic demand and other factors Indian bullion market witnessed a positive trend in the early session of trading on October 25. The 24-carat variant of the yellow metal was trading at Rs 48,048/10 gm, up by Rs 408/10 gm from Friday’s price of Rs 47,640/10 gm, according to the rate provided by the Indian Bullion and Jewellers Association (IBJA). The price of 22-carat gold was up by Rs 373 to Rs 44,012/10 gm from the previous day’s rate of Rs 43,639/10 gm.
“Gold remains supported by a weaker US dollar, retreat in bond yields, increasing inflation concerns, renewed virus concerns and mixed economic data from major economies. Gold continues to struggle to sustain above the $1,800/oz level which shows lack of confidence. However, with increasing challenges to global economy, prices may retain support,” said Ravindra Rao, CMT, EPAT, VP- head commodity research at Kotak Securities.
However, weighing on the price is lack of investor buying, strength in equity markets and increasing expectations of the Fed’s monetary tightening, he added.
“The US bureau of labour statistics has recently released inflation data for September concerning the Consumer Price Index (CPI). The report showed that the CPI-urban has gained 0.4%, crossing expectations. The report along with festive demand in India made the gold prices highly volatile last Friday. But it is again making some gains on Monday early session,” said Ravi Singh, vice president, ShareIndia.
Silver close to Rs 66,000/kg
On the other hand, silver jumped in early session on October 25 amid domestic demand and almost regained the Rs 66,000/kg level. Before Diwali and Dhanteras this trend is positive for the traders.
The white metal was trading in the positive zone in spot market today. Silver was trading at Rs 65,777/kg, up by modest Rs 886 from Friday‘s price of Rs 64,891/kg, according to IBJA rate. Experts feel that both gold and silver would keep this momentum for the next two weeks amid festive celebrations.
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