Gold and Silver Prices Surge Amid Festive Season: A Look at Rates in Major Indian Cities

Amid the approaching Varalakshmi Vrat during Shravan Friday, the attention of the Maguvals turns to Pasidi. However, today delivered a surprise to women as gold prices in the country experienced a slight increase, with silver following suit. As of today, August 14th, the focus shifts to the prices of gold and silver in prominent cities across the nation, including Andhra Pradesh and Telangana.

Post the recent budget implementation by the Central government, the escalating prices of Pasidi and silver have left enthusiasts dismayed, who anticipated a decrease in gold prices. Analysts attribute this upward trend to the festive and wedding season of Shravan.

In Hyderabad, the current rate for 10 grams of 22-carat gold stands at Rs. 65,660, while the price for 10 grams of pure 24-carat gold has climbed to Rs. 71,630. These rates are consistent in major cities such as Vijayawada and Visakhapatnam in the Telugu states.

Across different cities in India, the price of 22-carat gold in Delhi is Rs. 65,810 for 10 grams, and 24-carat gold is priced at Rs. 71,780. In Chennai, the price for 22-carat gold is Rs. 65,660, and for 24-carat gold, it is Rs. 71,630. Mumbai witnesses similar rates, with 22-carat gold priced at Rs. 65,660 and 24-carat gold at Rs. 71,630. These prices are also reflected in Bengaluru and Kerala.

Regarding silver prices in major cities, the metal, being the second most popular after gold, garners significant interest, especially for gifting during weddings and events. The price of silver has marginally increased today in line with gold prices. The current rate for silver per kilogram is Rs. 83,600 as of August 14th. These prices are consistent in key cities like Hyderabad, Vijayawada, and Visakhapatnam in the Telugu states, while Kolkata witnesses a silver price of Rs. 83,600 per kilogram and Bangalore at Rs. 80,100.

Market experts anticipate a further rise in these prices in the days ahead, projecting that by the end of 2024, the price of gold may surpass Rs. 70,000. Please note that the gold and silver prices mentioned here are subject to fluctuations based on factors like GST and making charges and may not be absolutely accurate, as per information obtained from leading jewellers.