Gold Retreats Modestly as Silver Climbs Sharply Across Indian Markets

Hyderabad experienced a modest correction in gold valuations on Friday, marking a pause in the metal's recent upward momentum. The pullback provided some respite for buyers, though silver remained the standout performer in bullion trading.

Data from Good Returns showed that 24-carat gold in Hyderabad shed Rs 440 to settle at Rs 1,59,490 per 10 grams at 10:30 am. The purer variant's decline was accompanied by a Rs 400 dip in 22-carat jewellery gold, which moved to Rs 1,46,200 per 10 grams.

The precious metals market painted a contrasting picture, with silver stealing the spotlight. The white metal surged by Rs 5,000 per kilogram to reach Rs 2,95,000 in Hyderabad. Bullion rates in Vijayawada tracked similar levels to the Hyderabad market.

Across India's major urban centres, gold valuations varied modestly. Chennai commanded the highest 24-carat gold price at Rs 1,61,240 per 10 grams, while Mumbai and Delhi quoted Rs 1,59,490 and Rs 1,59,640 per 10 grams respectively. Silver quotations nationwide ranged between Rs 2.85 lakh and Rs 2.95 lakh per kilogram.