Silver Prices- Gold and Silver Prices Drop Amid Strong Dollar: Check Latest Rates (February 3, 2025)
Silver Prices– Gold prices slipped from their record-high levels in early trade on Monday, February 3, 2025, as global economic trends weighed on the precious metal. A stronger U.S. dollar, which rebounded more than 1% to trade above 109 levels in the Asian market, reduced gold’s appeal as an inflation hedge.
Meanwhile, silver prices also declined, mirroring global trends. Investors continue to monitor economic signals and currency fluctuations to gauge the precious metals market. Here’s a detailed breakdown of today’s gold and silver prices across major Indian cities.
Gold Price Today in India (February 3, 2025)
Gold prices dropped marginally in early trade on Monday, marking a slight retreat from their all-time highs. The price of 24K gold decreased by ₹10 to ₹84,480 per 10 grams, while 22K gold fell to ₹77,440 per 10 grams in major cities.
On Saturday, gold reached its all-time high of ₹84,490 per 10 grams, reflecting the sustained bullish momentum over the past few weeks. However, today’s correction is largely attributed to the strengthening of the U.S. dollar.
Gold Prices in Major Indian Cities
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | ₹77,590 | ₹84,630 |
| Mumbai | ₹77,440 | ₹84,480 |
| Chennai | ₹77,440 | ₹84,480 |
| Kolkata | ₹77,440 | ₹84,480 |
Silver Price Today in India (February 3, 2025)
Silver prices also witnessed a decline in early Monday trade as the U.S. dollar strengthened. The price of silver fell by ₹100 to ₹99,400 per kilogram, reflecting a global downward trend.
Spot silver saw a 1.62% decline to $30.79 an ounce in early Asian trading. The strong dollar and profit-taking in the silver market contributed to the price drop.
Silver Prices in Major Indian Cities
| City | Silver Price (per kg) |
|---|---|
| Delhi | ₹99,400 |
| Mumbai | ₹99,400 |
| Chennai | ₹1,06,800 |
| Kolkata | ₹99,400 |
Gold and Silver Price Trends This Week
Gold prices started the week on a lower note after experiencing six consecutive weeks of gains. Over the last week, gold prices had surged by ₹2,070 or 2.5%, reaching a record high on Saturday.
Similarly, silver saw an uptrend last week, gaining ₹2,000 per kg. However, Monday’s early trade indicates a temporary correction due to global market fluctuations.
Gold and Silver Price Comparison (Past Week)
| Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver (per kg) |
|---|---|---|---|
| Feb 3 | ₹77,440 | ₹84,480 | ₹99,400 |
| Feb 1 | ₹77,450 | ₹84,490 | ₹99,500 |
| Jan 31 | ₹77,300 | ₹84,330 | ₹99,500 |
| Jan 30 | ₹76,100 | ₹83,020 | ₹98,500 |
| Jan 29 | ₹75,950 | ₹82,850 | ₹96,500 |
| Jan 28 | ₹75,100 | ₹81,930 | ₹96,500 |
| Jan 27 | ₹75,400 | ₹82,250 | ₹96,500 |
Why Are Gold and Silver Prices Falling?
The drop in gold and silver prices is largely attributed to the strengthening of the U.S. dollar, which has made the metals less attractive for investors. The U.S. dollar index climbed more than 1% above 109 levels, reducing gold’s appeal as a hedge against inflation.
Market analysts suggest that profit-taking by investors after last week’s surge has also contributed to the slight pullback in gold prices. However, the long-term outlook remains positive, with many traders expecting gold to stay strong due to persistent economic uncertainties.
Will Gold and Silver Prices Rebound?
While today’s price correction reflects global currency movements, analysts believe that gold and silver could regain momentum if inflation concerns persist.
With geopolitical tensions, interest rate policies, and market sentiment playing a crucial role, precious metal investors should keep an eye on key economic indicators in the coming days.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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