The prices of gold and silver in the country have sent shockwaves through the market. Following a sudden drop after the budget announcement, gold prices have been steadily declining. Gold holds a special place in Indian tradition, especially during weddings and auspicious occasions where gold shops are bustling with activity. However, recent developments have seen a surge in the price of gold against the backdrop of Libra.
On September 14th, the price of gold spiked to 1300 against the previous day’s rates, leaving many astonished, especially women who are active participants in the gold market. Currently, the domestic prices stand at Rs.68,260 for 10 grams of 22 carat gold and Rs.74,460 for 10 grams of 24 carat gold, with fluctuations expected based on regional dynamics.
In major cities like Chennai, Mumbai, Delhi, Hyderabad, Vijayawada, Bengaluru, and Kolkata, the prices of gold vary slightly but remain in the same range, signaling a broader trend in the market. Silver, following in gold’s footsteps, has also seen a significant increase in price, with a kilogram now priced at Rs.89,600 nationally and even higher in select regions like Chennai, Hyderabad, and Kerala where it stands at Rs.95,100.
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