New Delhi: Gold and silver prices are on the rise once more, following a brief dip last week. This constant fluctuation has become the new normal for precious metals, leaving many wondering: is this a temporary blip or the start of a sustained upswing?
Gold Breaches Rs 64,000 Mark, Silver Follows Suit
After briefly dipping below Rs 60,000 per 10 grams, gold is now flirting with the Rs 64,000 mark. This upward trend is attributed to the upcoming festive season in India, a time when gold purchases traditionally peak. If you’re planning to buy gold, timing is crucial. As of February 19th, 2024, gold has climbed to Rs 62,077 per 10 grams, while silver follows with a price of Rs 71,240.
City-Wise Gold Price
- Delhi: 22 carat – Rs 57,600, 24 carat – Rs 62,820 per 10 grams
- Mumbai: 22 carat – Rs 57,450, 24 carat – Rs 62,670 per 10 grams
- Chennai: 22 carat – Rs 58,000, 24 carat – Rs 63,270 per 10 grams
- Kolkata: 22 carat – Rs 57,450, 24 carat – Rs 62,670 per 10 grams
- Gurugram: 22 carat – Rs 57,600, 24 carat – Rs 62,820 per 10 grams
- Lucknow: 22 carat – Rs 57,600, 24 carat – Rs 62,820 per 10 grams
- Bengaluru: 22 carat – Rs 57,450, 24 carat – Rs 62,670 per 10 grams
Purity Matters: Understanding Gold Prices Across Carats
The price of gold varies depending on its purity, measured in carats. Here’s a breakdown:
- 995: Rs 61,828 per 10 grams
- 916 (22 carat): Rs 56,862 per 10 grams
- 750 (18 carat): Rs 46,558 per 10 grams
- 585 (14 carat): Rs 36,315 per 10 grams
Silver price
As mentioned earlier, silver is also experiencing an upward trend, currently priced at Rs 71,240. While silver doesn’t enjoy the same festive season boost as gold, its price often moves in tandem with its precious metal counterpart.
Whether you’re looking to invest or celebrate a special occasion, understanding gold price fluctuations is crucial. While the festive season usually sees a price hike, long-term factors like global economic conditions and geopolitical tensions also play a role. Weigh your options carefully before making a decision.
Know Your Gold & Silver Rates in Seconds
The India Bullion and Jewellers Association (IBJA) has launched a user-friendly service that allows you to obtain the latest prices of 22 karat and 18 karat gold with just a single missed call. Here’s how it works:
- Dial 8955664433 from your mobile phone.
- Wait for a few seconds.
- Receive an SMS with the current rates!
The SMS will break down the prices for different purities:
- 22 karat
- 18 karat
- 916 (22 karat)
- 750 (18 karat)
- 585 (14 karat)
You’ll also get the current silver price in the same message.
