Mumbai, January 10 – This week witnessed a significant rise in precious metal prices, with gold rates increasing by more than ₹2,300 and silver surpassing ₹2.42 lakh per kilogram.
According to the India Bullion Jewellers Association (IBJA), the price of 24-carat gold rose by ₹2,340 during the week to reach ₹1,37,122 per 10 grams, up from ₹1,34,782 per 10 grams earlier.
The spot market gold price is nearing its all-time high of ₹1,37,956 per 10 grams.
Similarly, 22-carat gold prices climbed to ₹1,25,604 per 10 grams from ₹1,23,460, while 18-carat gold rose from ₹1,01,087 to ₹1,02,842 per 10 grams.
Silver prices also saw a sharp increase, rising by ₹8,258 to ₹2,42,808 per kilogram, compared to ₹2,34,550 per kilogram previously.
On the international front, both gold and silver prices showed an upward trend this week. Gold prices increased from $4,345 to $4,500 per ounce, while silver went up from $71.30 to $79 per ounce.
Experts noted that gold prices have gained momentum, with COMEX support at $4,450 per ounce and resistance around $4,475 per ounce. They forecast that gold may trade between ₹1,36,500 and ₹1,39,000 in the near term, with global economic data playing a key role in determining the price direction.
Meanwhile, silver prices have surged sharply due to continuous supply constraints and rising industrial demand.
(Daily Kiran)
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