English
English
English
Gold prices in India surged this week, with 24-carat gold rising ₹3,770 and 22-carat gold increasing ₹3,450. Silver also jumped ₹8,000 per kilogram. Delhi recorded 24-carat gold at ₹1,34,070 per 10 grams. The rise follows global market trends and interest rate cuts by the US Federal Reserve.
India’s Gold and Silver Rates See Significant Weekly Rise
New Delhi: Gold prices in India are continuously rising. In the last week, 24-karat gold has increased by Rs 3770, while the price of 22-karat gold has risen by Rs 3450. In Delhi, on December 14th, the price of 24-karat gold was recorded at Rs 1,34,070 per 10 grams, and 22-karat gold at Rs 1,22,900 per 10 grams.
The international market has also played a significant role in the rising gold prices. According to the London Bullion Market Association, the spot price of gold has increased by approximately 60 percent this year. On December 14th, the spot price of gold in the international market was $4,338.40 per ounce. Following the US Federal Reserve's 0.25 percent reduction in key interest rates, investors have been rapidly attracted to gold and silver.
Silver Hits Record ₹2 Lakh, Gold Prices Surge on Strong Industrial Demand
There are slight variations in gold prices across different cities in India.
Delhi: 24-karat – Rs 1,34,070; 22-karat – Rs 1,22,900
Mumbai, Chennai, Kolkata: 24-karat – Rs 1,33,910; 22-karat – Rs 1,22,750
Pune and Bengaluru: 24-karat – Rs 1,33,910; 22-karat – Rs 1,22,750
Ahmedabad, Bhopal: 24-karat – Rs 1,33,970; 22-karat – Rs 1,22,800
Hyderabad, Jaipur, Lucknow, Chandigarh: 24-karat – Rs 1,34,070; 22-karat – Rs 1,22,900
Experts believe that several factors are contributing to the surge in gold prices. The US Federal Reserve's interest rate cut has increased the likelihood of lower yields on bonds. In such a scenario, investors tend to move towards safe-haven assets, with gold and silver being prominent examples. In the domestic market, the price of gold has increased by 65 percent so far this year.
Like gold, silver prices have also been consistently rising. In the last week, the price of silver has surged by ₹8,000. On December 14, the price of silver was recorded at ₹1,98,000 per kilogram. In the international market, the spot price of silver reached $64.57 per ounce.
The rising prices of silver are also playing a significant role in attracting investors. Global economic uncertainties and the Federal Reserve's interest rate cuts are leading investors to gravitate towards safe-haven assets. Investing in gold and silver not only provides security but also acts as a hedge against inflation.
Trump launches ‘Gold Card’ visa programme; All you need to know
There are slight differences in gold and silver prices across major cities in the country. Prices in cities like Mumbai, Kolkata, and Chennai are almost similar, while Delhi and Jaipur have seen a slight increase. Investors often consider local market rates when buying gold and silver.
Experts say that investing in gold and silver is considered safe in the long run. However, investors should make decisions at the right time, keeping in mind price fluctuations. Small investors can also make safe investments through gold bonds or digital gold.
Experts predict that gold and silver prices are likely to remain stable in the coming week. However, this could be affected by international market conditions and global economic policies. The Federal Reserve's actions and international demand-supply figures will be important indicators for investors.
