Mumbai, March 25: Gold and silver prices saw a notable increase on Wednesday, with 24-carat gold reaching ₹146,205 per 10 grams and silver exceeding ₹2,34,814 per kilogram.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ₹5,785 from ₹140,420 per 10 grams. Meanwhile, 22-carat gold increased from ₹128,625 to ₹133,924 per 10 grams. The cost of 18-carat gold also saw a rise, moving from ₹105,315 to ₹109,654 per 10 grams.
Silver prices have also surged, climbing by ₹10,269 to reach ₹2,34,814 per kilogram, up from ₹2,24,545 per kilogram.
International markets reflected similar trends, with gold prices increasing by 3.47% to $4,591 per ounce and silver rising by 4.86% to $72.98 per ounce at the time of reporting.
Jatin Trivedi from LKP Securities noted that the rise in gold prices is attributed to renewed discussions between the U.S. and Iran. However, uncertainties regarding the reopening of the Strait of Hormuz continue to pose risks, alongside concerns about potential declines in crude oil prices.
He further stated that the current surge appears to be a relief rally and short covering rather than a new bullish signal. As long as geopolitical uncertainties and inflation concerns persist, fluctuations in gold prices are likely to continue. In the near future, gold prices are expected to range between ₹135,000 and ₹155,000 per 10 grams.
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My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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