As the festive season of Diwali draws near, the demand for gold and silver is experiencing a significant uptick, leading to a notable increase in prices. In recent days, gold has crossed the ₹80,000 mark per 10 grams, while silver prices have also surged past ₹1,00,000 per kg. This trend is expected to continue as consumers prepare for the festivities.
Current Gold Prices
On Thursday morning, October 24, gold prices saw a rise compared to the previous day. Here’s a breakdown of the rates for gold across different cities:
- National Rates:
- 22 Carat Gold: ₹73,410 per 10 grams
- 24 Carat Gold: ₹80,080 per 10 grams
City-wise Gold Rates:
- Hyderabad:
- 22 Carat: ₹72,990
- 24 Carat: ₹79,630
- Visakhapatnam & Vijayawada:
- 22 Carat: ₹72,990
- 24 Carat: ₹79,630
- Delhi:
- 22 Carat: ₹73,140
- 24 Carat: ₹79,780
- Mumbai:
- 22 Carat: ₹72,990
- 24 Carat: ₹79,630
- Chennai:
- 22 Carat: ₹72,990
- 24 Carat: ₹79,630
- Bengaluru:
- 22 Carat: ₹72,990
- 24 Carat: ₹79,630
Current Silver Prices
Silver prices are also witnessing a substantial increase. Here are the current rates for silver per kg:
- Hyderabad: ₹112,100
- Vijayawada & Visakhapatnam: ₹112,100
- Delhi: ₹104,100
- Mumbai: ₹104,100
- Bengaluru: ₹99,100
- Chennai: ₹112,100
Trends and Future Outlook
As the festive season approaches, the trend of rising prices for gold and silver is likely to persist. This is a time when families traditionally purchase gold and silver for gifting and investment, driving demand higher. Industry experts anticipate that prices could climb even further as we approach Diwali, making it an ideal time for potential buyers to monitor market trends closely.
Conclusion
With gold and silver prices on the rise, consumers are encouraged to stay informed about current rates and market dynamics. Whether you’re looking to invest or gift precious metals this Diwali, understanding these trends can help you make informed decisions. Keep an eye on the market as prices continue to fluctuate in the coming days.
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