Gold prices in the country have been on a rollercoaster ride since the recent budget announcement. The once soaring prices of both gold and silver have now hit a low point, leaving investors and traditionalists alike watching closely. In India, gold holds a special place, especially among women, where its value can change drastically from one day to the next.
Last Friday (September 5), the Indian bullion market saw a drop in gold prices, signaling a continuation of the downward trend since the budget. Silver prices are also following suit, with a decrease of Rs. 100 in the scale. Presently, the domestic price stands at Rs. 72,750 for 10 grams of 24-carat gold, while 22-carat gold is priced at Rs. 66,680 for the same weight.
Taking a closer look at major cities across the country, we find varying prices. In Delhi, 10 grams of 22-carat gold is priced at Rs. 66,830, and 24-carat gold at Rs. 72,900. Moving to Chennai, the prices are Rs. 66,680 for 22-carat and Rs. 72,750 for 24-carat gold. Similarly, Mumbai, Hyderabad, Vijayawada, Bengaluru, and Kolkata show consistent patterns in gold pricing.
Experts in the bullion market are anticipating a rise in gold prices, with international firms like Goldman Sachs predicting a potential surge to $2,700 an ounce by early 2025. Investors are advised to keep an eye on these developments and maintain faith in the enduring value of gold.
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