Hey, Are you planning to buy gold or silver today? Well, here’s some good news for you gold rates remained unchanged on Monday, keeping the market stable. Whether you’re considering an investment or just tracking the prices, staying updated is always a smart move. Let’s take a look at the latest gold and silver rates across major cities in India.
Gold Rates Hold Steady Across India
As per the latest update from Good returns, the price of 22-carat gold remained at ₹55,300 for 10 grams, while 8 grams of the same purity was available for ₹44,240. Similarly, the price of 24-carat gold was ₹60,320 for 10 grams, and 8 grams of this purity stood at ₹48,256. The unchanged rates reflect stability in the gold market, which is often influenced by various economic factors, including international policies, demand fluctuations, and currency exchange rates.
Silver Prices Also Show No Change
Silver, like gold, has maintained its price from the previous day. According to Good returns, 10 grams of silver was priced at ₹721, while 100 grams cost ₹7,210. The silver market, much like gold, is influenced by global economic conditions and domestic demand. Investors and traders closely monitor these prices as silver remains a popular choice for both investment and industrial use.
Gold and Silver Rates in Major Indian Cities
Gold and silver prices can vary slightly from city to city due to factors such as local demand and transportation costs. Here are the latest prices in some of the major Indian cities:
In Delhi, the price of 22-carat gold is ₹55,450 per 10 grams, while silver is available at ₹721 per 10 grams. Mumbai and Kolkata have the same gold price of ₹55,300 for 10 grams, with silver also costing ₹721 per 10 grams. Chennai has the highest gold rate among major cities, with 22-carat gold priced at ₹55,600 for 10 grams, while silver is available at ₹744 per 10 grams. Bengaluru follows closely with gold at ₹55,350 per 10 grams and silver at ₹744 per 10 grams.
Gold Rates Trends in February
Gold rates have witnessed fluctuations over the past month. On February 2, the price of 22-carat gold reached a peak of ₹53,600, while 24-carat gold was priced at ₹58,470. By February 27, the prices dropped, with 24-carat gold hitting a low of ₹56,020. These shifts reflect the dynamic nature of the gold market, which is affected by economic stability, investor sentiment, and international market trends.
Factors Affecting Gold and Silver Prices
The prices of gold and silver are determined by multiple factors. Economic uncertainties often drive people towards gold as a safe investment, leading to price hikes. The strength of the Indian rupee against the US dollar also plays a crucial role in determining the cost of imported gold. Additionally, global market trends, geopolitical tensions, and government policies on import duties significantly influence the pricing of these precious metals.
With gold and silver prices remaining unchanged, buyers and investors can take a breather from market fluctuations. Whether you are looking to invest in gold or purchase silver jewelry, keeping an eye on daily price movements is always a wise decision. Since gold and silver rates can change frequently, it is advisable to check with local jewellers for the most accurate prices before making any transactions.
Disclaimer: The gold and silver prices mentioned in this article are based on market reports from reputed sources. Prices may vary due to local factors and government regulations. It is always recommended to verify the latest rates with local jewellers before making any financial decisions.
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