Gold and silver prices witnessed a decline on the first day of the new year, January 1. In Delhi, 24-carat gold slipped to ₹1,35,030 per 10 grams, while silver fell to ₹2,38,900 per kg. Weak global cues and profit booking impacted prices.
Gold prices surged sharply in India, rising ₹7,040 per 10 grams for 24-carat gold in a week, while silver jumped ₹37,000 per kg. Gold touched record levels in domestic and global markets amid strong investment demand and economic uncertainty.
Gold prices surged on 20 November across major Indian cities, with 24-carat gold touching ₹1,25,020 per 10 grams in Delhi. Other metros like Mumbai, Chennai and Kolkata also recorded a rise, with prices hovering near ₹1,24,870.
Overall, gold prices have increased by about ₹ 5,800 per 10 grams in the last five trading days. Similarly, the price of 99.5% purity gold is also trading near ₹ 1,03,000. Not only gold, silver prices have also seen a tremendous rise.
According to the All India Sarafa Sangh, gold of 99.9 percent purity in Delhi fell by Rs 400 to Rs 97,620 per 10 grams. Its price was Rs 98,020 on Thursday.
An increase in the price of gold has been registered in various cities of Uttar Pradesh, while silver rates also saw slight fluctuations.
In Lucknow, Noida, Ghaziabad, Meerut, Ayodhya, Gorakhpur, Kanpur, Varanasi, Agra and other cities of Uttar Pradesh, the rate of 24 carat gold has been recorded at Rs 98,230 per 10 grams. At the same time, the price of 22 carat gold was Rs 93,550 per 10 grams.
Today, gold prices have risen slightly by Rs 70, while silver prices have declined marginally. This is the time for investors to take a careful decision.
The weakness of the dollar and the growing trend of investors towards safe options are considered to be the main reasons behind gold-silver hike.
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