KKN Gurugram Desk | The gold and silver markets have witnessed a significant price surge this week, impacting buyers across India. After a strong rally last week, gold prices continue to rise, while silver has also shown substantial gains. With the wedding season in full swing, consumers may feel the heat of soaring gold and silver prices.
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Today, the rates for 18K, 22K, and 24K gold along with the price of one kilogram of silver have been updated.
Gold Price Today in India
Last week, gold showed strong momentum, recording a sharp increase of ₹2,000 over four consecutive days. However, silver had remained relatively stable. This Monday, both gold and silver prices surged significantly, creating new records in the bullion market.
Current Gold Rates (Per 10 Grams)
According to GoodReturns, the latest gold prices in India are:
- 22K Gold Price: ₹80,690
- 24K Gold Price: ₹88,020
Gold’s continuous rally has made it a costly investment, putting additional financial pressure on buyers, especially those purchasing jewelry for weddings.
Silver Price Trends in India
Unlike the fluctuations seen in gold, silver prices remained relatively stable last week. However, this week has been different, with silver witnessing a steep rise.
- Last Friday, silver fell by ₹100 per kg.
- This Monday, silver surged by ₹500 per kg.
- As per GoodReturns, one kilogram of silver now costs ₹1,01,000 in India.
This significant rise in silver prices has added to the concerns of investors and jewelry buyers.
Detailed Gold Rates: 14K to 24K Prices
The Indian Bullion and Jewellers Association (IBJA) has released updated rates for different gold variants:
| Gold Purity | Price (Per 10 Grams) |
|---|---|
| 24K Gold | ₹86,400 |
| 23K Gold | ₹86,054 |
| 22K Gold | ₹79,142 |
| 18K Gold | ₹64,800 |
| 14K Gold | ₹50,544 |
Meanwhile, the price of 1 kg of silver stands at ₹96,115, as per IBJA data.
Why Are Gold and Silver Prices Rising?
The increase in gold and silver rates is driven by several key factors, including:
- Wedding Season Demand
- India’s wedding season has led to higher gold demand, influencing the price hike.
- International Gold Market Trends
- Global economic concerns, US Dollar fluctuations, and inflation have pushed gold prices higher worldwide.
- Interest Rate Uncertainty
- Federal Reserve’s policy decisions have impacted gold demand as an investment.
- Geopolitical Tensions
- Rising global uncertainties have fueled investor interest in gold as a safe-haven asset.
- Supply Chain Constraints
- Limited mining output and higher refining costs have also contributed to rising prices.
How to Check Gold and Silver Prices from Home?
Tracking daily gold and silver rates is now easier than ever. Consumers can check the latest bullion rates without visiting a jeweler:
- The Indian Bullion and Jewellers Association (IBJA) updates prices daily, except on Saturdays, Sundays, and public holidays.
- Consumers can also get real-time price updates via SMS.
- To check the latest gold and silver rates, give a missed call on 8955664433 to receive instant pricing updates for all gold karats (14K, 18K, 22K, 24K).
Impact on Consumers and Jewelers
As gold and silver prices continue their upward trend, both buyers and jewelers are facing challenges:
For Consumers
- Higher jewelry costs have made wedding purchases more expensive.
- Investment in gold is becoming costly, but demand remains high due to global economic conditions.
- Many buyers are considering lightweight jewelry to reduce costs.
For Jewelers
- Gold imports have become expensive, impacting supply chains.
- Jewelers are witnessing higher footfall, but actual purchases are lower due to high prices.
- Custom orders for budget-friendly gold jewelry are increasing.
Gold Price Trends in the International Market
India’s gold prices are directly linked to global bullion rates. Currently, the international gold market is witnessing high demand due to:
- Stock market instability, leading to higher gold investments.
- Inflation concerns, making gold a preferred asset for investors.
- Central bank gold purchases, boosting market confidence.
Experts suggest that gold prices may continue to rise, but silver could see moderate corrections based on global economic shifts.
If you’re planning to invest in gold or silver, financial experts suggest:
- Buy in Small Quantities – Prices are volatile, so staggered buying is a safer strategy.
- Consider Digital Gold or ETFs – This avoids making charges and storage costs.
- Watch Market Trends – Keep an eye on US Fed policies and global gold trends.
- Choose Hallmarked Jewelry – Always buy certified gold to ensure purity and value.
With gold and silver prices rising, strategic investment can help maximize returns in the long run.
- Gold Prices: 22K Gold at ₹80,690 per 10 grams, 24K Gold at ₹88,020 per 10 grams.
- Silver Price: 1 kg Silver at ₹1,01,000, with a ₹500 increase this Monday.
- Gold Demand Surging: Driven by wedding season, inflation, and geopolitical factors.
- Consumer Impact: Higher jewelry costs affecting buyers, demand remains strong.
- Investment Advice: Consider staggered buying, digital gold, or ETFs for safe investment.
As gold and silver prices continue to rise globally, staying updated with daily market rates is essential for both buyers and investors.
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