Bullish Trend in Bullion Market: Gold and Silver Prices Rise

New Delhi, January 16: After a brief dip, the domestic bullion market witnessed a bullish trend today. Prices for 24-carat gold are now ranging between ₹80,220 and ₹80,070 per 10 grams, while 22-carat gold is trading between ₹73,550 and ₹73,400 per 10 grams across major markets. Additionally, silver prices have surged by ₹1,000 per kilogram, with the precious metal trading at ₹93,500 per kilogram in Delhi’s bullion market.

Gold Prices in Major Cities

1. Delhi:
   • 24-Carat Gold: ₹80,220 per 10 grams
   • 22-Carat Gold: ₹73,550 per 10 grams
2. Mumbai:
   • 24-Carat Gold: ₹80,070 per 10 grams
   • 22-Carat Gold: ₹73,400 per 10 grams
3. Ahmedabad:
   • 24-Carat Gold: ₹80,120 per 10 grams
   • 22-Carat Gold: ₹73,450 per 10 grams
4. Chennai:
   • 24-Carat Gold: ₹80,070 per 10 grams
   • 22-Carat Gold: ₹73,400 per 10 grams
5. Kolkata:
   • 24-Carat Gold: ₹80,070 per 10 grams
   • 22-Carat Gold: ₹73,400 per 10 grams

Silver Prices Surge

In Delhi, silver prices increased by ₹1,000 per kilogram, bringing the price to ₹93,500 per kilogram. Similar trends are observed in other cities, with consistent demand driving the prices up.

City-Wise Gold Rates

1. Lucknow:
   • 24-Carat Gold: ₹80,220 per 10 grams
   • 22-Carat Gold: ₹73,550 per 10 grams
2. Patna:
   • 24-Carat Gold: ₹80,120 per 10 grams
   • 22-Carat Gold: ₹73,450 per 10 grams
3. Jaipur:
   • 24-Carat Gold: ₹80,220 per 10 grams
   • 22-Carat Gold: ₹73,550 per 10 grams

Gold Rates in Southern States

In Bengaluru, Hyderabad, and Bhubaneswar, the gold prices are as follows:

• 24-Carat Gold: ₹80,070 per 10 grams
• 22-Carat Gold: ₹73,400 per 10 grams

Key Observations

1. Market Recovery: After a brief dip, gold prices have stabilized and are showing signs of a bullish trend, reflecting global market movements and festive demand.
2. Regional Variation: Prices vary slightly across cities due to transportation costs and local taxes.
3. Investment Demand: The surge in silver prices indicates a growing interest among investors in the metal, given its utility in industrial applications and as a hedge against inflation.