The gold price continues to climb, bringing both excitement and concern among investors and jewelry buyers alike. As of Saturday morning, the price of 24-carat gold saw a small yet significant increase of ₹10, pushing the rate for ten grams to ₹90,990. Alongside gold, silver prices also experienced a rise, with one kilogram now selling at ₹1,05,100.
Gold Prices Across Major Indian Cities
The surge in gold prices has been reflected across major cities in India. In Mumbai, Kolkata, and Chennai, ten grams of 24-carat gold is currently priced at ₹90,990, while in Delhi, it stands slightly higher at ₹91,140. The trend remains similar for 22-carat gold, with ten grams selling at ₹83,410 in Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad. Silver prices, too, are on the rise, reaching ₹1,05,100 per kilogram in Delhi, Mumbai, and Kolkata, while Chennai records a higher price of ₹1,14,100.
Global Gold Prices Soar Amid Economic Uncertainty
The surge in gold prices isn’t just limited to India. On a global scale, gold prices have skyrocketed, setting a new record high. Spot gold climbed 0.6% to reach $3,074.43 per ounce, after briefly hitting an all-time high of $3,086.70 earlier in the session. The market momentum continues to favor gold, with bullion showing a 1.7% rise this week and on track for its fourth consecutive weekly gain.
The driving force behind this steep rise is increasing global uncertainty. Investors are flocking toward gold as a safe-haven asset due to heightened concerns over a potential global trade war triggered by the latest tariffs imposed by US President Donald Trump. Whenever financial markets face turbulence, gold becomes the go-to asset for stability, and this time is no different.
Silver, Platinum, and Palladium See Market Fluctuations
While gold is dominating the headlines, other precious metals are also experiencing notable shifts. Spot silver prices took a slight dip of 1.4% to settle at $33.93 per ounce. Platinum eased 0.7%, trading at $979.10, while palladium recorded a minor decline of 0.3% to settle at $972.13. However, despite these minor dips, all three metals are still set to close the week with gains, indicating overall market strength in the precious metals sector.
What This Means for Investors and Buyers
With gold and silver prices on the rise, this could be a crucial time for investors looking to secure their assets in the face of economic uncertainties. For jewelry buyers, however, the increasing rates might mean rethinking their purchasing decisions, especially with wedding and festive seasons around the corner.
As global markets continue to react to economic and political developments, gold prices are expected to remain volatile. Investors and buyers alike should stay informed and make decisions based on the latest market trends.
Disclaimer: This article is based on publicly available market data and financial news. Prices are subject to change, and readers should verify the latest rates before making any investment or purchase decisions.
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