Gold prices in India are steadily rising as the budget approaches. The price of 10 grams of 24-carat gold is now hovering around ₹81,300 in many cities across the country. Meanwhile, 22-carat gold has reached nearly ₹75,000, marking a significant increase. Here’s a detailed look at the latest trends and what it means for buyers, especially during the ongoing wedding season.
Gold and Silver Rates Across the Country
- 24-Carat Gold Price
The current price of 24-carat gold has risen by ₹250, bringing it to approximately ₹81,300 per 10 grams. - 22-Carat Gold Price
The price of 22-carat gold is trading between ₹74,600 and ₹75,000 across various states, including Delhi, Rajasthan, Uttar Pradesh, and Haryana. - Silver Rates
The price of 1 kg of silver stands at ₹96,500. While it peaked at ₹1,00,000 in 2024, it has not yet returned to that level.
Impact on Buyers During Wedding Season
- Rising gold and silver prices are directly impacting jewelry buyers.
- For families planning weddings, the increased cost of gold jewelry means higher expenses.
- Gold’s fluctuating prices make timing crucial for buyers seeking better deals.
Gold’s Performance in the Last Six Months
- In July 2024, gold prices were around ₹82,000 but dropped after customs duties were reduced in the budget.
- Over the last six months, prices have fluctuated between ₹76,000 and ₹81,300, offering almost zero returns for investors.
- However, with the current surge, gold is inching closer to its previous highs.
Key Takeaways for Buyers and Investors
- For Jewelry Buyers: With the wedding season in full swing, it’s wise to monitor prices closely to find the right time for purchases.
- For Investors: While gold remains a stable long-term investment, short-term fluctuations may require careful planning.
Gold continues to shine as a symbol of wealth and investment in India, but staying informed about price trends is essential to make the most of this precious metal.