Gold and Silver Shine Bright: Prices Surge in Domestic Bullion Market
New Delhi, January 25 The domestic bullion market witnessed a strong upward trend today as both gold and silver prices surged significantly. Gold prices climbed by ₹310 to ₹340 per 10 grams, while silver experienced a substantial increase of ₹1,100 per kilogram. As a result, 24-carat gold is now trading between ₹82,430 and ₹82,580 per 10 grams across major bullion markets in India. Similarly, 22-carat gold is priced between ₹75,560 and ₹75,710 per 10 grams, and silver is trading at ₹97,600 per kilogram in the Delhi bullion market.
Gold Prices Surge Across Major Cities
In the national capital, 24-carat gold reached ₹82,580 per 10 grams, while 22-carat gold was recorded at ₹75,710 per 10 grams. Mumbai, the financial hub of India, saw 24-carat gold priced at ₹82,430 per 10 grams and 22-carat gold at ₹75,560 per 10 grams.
Ahmedabad reported a similar trend, with 24-carat gold priced at ₹82,480 per 10 grams and 22-carat gold at ₹75,610 per 10 grams. In Chennai, 24-carat gold traded at ₹82,430 per 10 grams, while 22-carat gold was priced at ₹75,560 per 10 grams. Meanwhile, Kolkata also saw 24-carat gold priced at ₹82,430 per 10 grams and 22-carat gold at ₹75,560 per 10 grams.
Rising Prices in Regional Markets
Lucknow recorded gold prices at ₹82,580 per 10 grams for 24-carat gold and ₹75,710 per 10 grams for 22-carat gold. In Patna, 24-carat gold was priced at ₹82,480 per 10 grams, while 22-carat gold was traded at ₹75,610 per 10 grams. Jaipur mirrored Delhi’s prices, with 24-carat gold trading at ₹82,580 per 10 grams and 22-carat gold at ₹75,710 per 10 grams.
Southern states also witnessed significant price hikes. Bengaluru, Hyderabad, and Bhubaneswar saw 24-carat gold trading at ₹82,430 per 10 grams, while 22-carat gold was priced at ₹75,560 per 10 grams in all three cities.
Silver Prices Reflect Upward Momentum
Silver prices have also surged, trading at ₹97,600 per kilogram in the Delhi bullion market. The strong demand for the precious metal, coupled with global market trends, has contributed to this sharp rise. Silver’s growing appeal as a safe-haven asset amid global economic uncertainties continues to drive its demand.
Key Factors Driving the Surge
The surge in gold and silver prices can be attributed to a combination of factors, including:
- Global Market Trends: An increase in international gold and silver prices has had a direct impact on domestic rates.
- Weaker Rupee: The depreciation of the Indian rupee against the US dollar has made gold imports more expensive, pushing prices higher.
- Seasonal Demand: With wedding and festive seasons underway, domestic demand for gold jewelry has surged.
- Safe-Haven Demand: Economic uncertainties and inflation concerns have driven investors towards gold and silver as safe-haven assets.
Outlook for the Bullion Market
Experts anticipate that gold and silver prices may continue their upward trend in the short term, driven by ongoing global economic conditions and domestic demand. Analysts recommend that buyers and investors closely monitor price movements and consider market trends before making decisions.
