A 'big bang' in the Delhi bullion market! Silver prices surge by ₹11,250, while gold becomes costlier by ₹4,900

Gold prices have risen for the second consecutive day in the national capital, Delhi. Meanwhile, silver prices have risen by nearly 5%, pushing silver prices past ₹2.40 lakh (approximately ₹1.50 lakh). 

Experts believe the rise in gold and silver prices is due to a surge in the international market. 

The decline in the dollar index has led to the rise in gold and silver prices. Experts predict that gold and silver prices may fluctuate in the coming days. Let us also tell you how much the prices of gold and silver have reached.

Gold and silver become expensive in Delhi

Gold and silver prices in the national capital, Delhi, rose by up to 5 percent due to a fall in the dollar and an increase in the international market. On Wednesday, silver prices rose by ₹11,250 to ₹2.41 lakh per kilogram, while gold prices rose to ₹1.49 lakh per 10 grams.

According to the All India Sarafa Association, silver prices rose by ₹11,250, or 4.89 percent, from Tuesday's closing price of ₹230,000 per kilogram to ₹241,250 per kilogram (including all taxes). 

Gold of 99.9 percent purity also rose by ₹4,900, or 3.38 percent, to ₹149,700 per 10 grams (including all taxes). The previous closing price of gold in the bullion market was ₹144,800 per 10 grams.

Gold and silver prices in the international market

Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, said that gold prices rose in domestic markets on Wednesday, indicating a strong recovery in recent sessions. 

This recovery was supported by an improved geopolitical environment, which led to a decline in oil prices. In the international market, spot gold rose by $82.17, or nearly 2 percent, to $4,556.55 per ounce, while silver was trading at $72.67 per ounce, up 2 percent. 

Praveen Singh, Research Analyst, Mirae Asset ShareKhan, said that spot gold continued its rise for the second consecutive day, reaching around $4,550 per ounce. 

This happened as investors hoped for a possible ceasefire between the US and Iran, which led to a decline in crude oil and dollar prices.

Iran rejected the claims

According to reports, Iran has received a 15-point proposal from the United States to reach a ceasefire. President Donald Trump has expressed optimism about a possible agreement with Iran, and said that Vice President J.D. 

Vance and Secretary of State Marco Rubio are involved in discussions. However, Tehran has denied any talks with Washington. 

A military spokesman flatly rejected claims of negotiations. Meanwhile, Iran has also begun charging transit fees to some commercial ships passing through the Strait of Hormuz, further fueling uncertainty in global markets.

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