Gold and silver prices witnessed a sharp surge on Ram Navami, driven by global uncertainty and shifting economic conditions. In Delhi, 24-carat gold climbed significantly, while silver also recorded strong gains.
Sharp Rise in Gold Rates as Investors Turn to Safe Haven Assets
New Delhi: While the auspicious occasion of Ram Navami is marked by worship and celebration across the country, a sharp rise in gold and silver prices in the bullion market has surprised investors and buyers. This surge in prices within a few hours has created a stir in the market. Experts believe that domestic factors, as well as international circumstances, are responsible for this.
On March 26, the price of 24-carat gold in Delhi rose to ₹1,46,830 per 10 grams, while 22-carat gold reached ₹1,34,610 per 10 grams. Compared to the previous day, the price of gold increased by approximately ₹4,900, or 3.38 percent, to ₹1,49,700 per 10 grams. This rise has left buyers confused.
Gold prices have also seen a rise in major cities like Mumbai, Chennai, and Kolkata. In these cities, the price of 24-carat gold remains at ₹1,46,680 per 10 grams, and 22-carat gold at ₹1,34,460 per 10 grams. The same rates apply in Pune and Bengaluru, indicating a bullish market sentiment across the country.
Along with gold, silver prices have also seen a sharp rise. On March 26, silver prices rose to ₹2,50,100 per kilogram. A day earlier, silver prices had risen by ₹11,250, or approximately 4.89 percent, to ₹2,41,250 per kilogram. In the international market, silver prices have also reached $72.67 per ounce.
According to experts, global uncertainty is a major reason behind this rise in gold and silver prices. Tensions between the US and Iran and potential diplomatic developments have impacted the market. This has led to fluctuations in the dollar and crude oil prices, prompting investors to turn to gold as a safe haven.
Market experts say that gold and silver remain safe investment options in the current situation. However, price fluctuations may continue, so investors are advised to exercise caution before making decisions.
The brilliance of gold and silver on this occasion of Ram Navami has given the market a new direction, but further movements will depend on international conditions.
