look news india
The shine of precious metals is continuously increasing in the domestic bullion market. On the basis of strong signals from global markets and strong domestic demand, gold and silver prices have reached new record levels in the Indian bullion market. In the national capital New Delhi, the price of 22 carat gold has jumped to ₹ 1,47,260 (per 100 grams / ₹ 14,726 per gram). Along with this, due to improvement in industrial demand and safe-haven buying, silver prices are also in a strong upward trend.
Latest gold prices in major metros including Delhi (Gold Rate Today)
Gold prices witnessed strong gains today in the National Capital Region and other major markets of the country:
-
New Delhi: 22 carat gold is trading at ₹1,47,260 (per 100 grams). A significant jump has also been recorded in the price of 24 carat (pure gold).
-
Mumbai: The price of 22 carat gold in the financial capital remains around ₹ 1,47,110 per 100 grams.
-
Kolkata: In Kolkata, the main market of eastern India, 22 carat gold was recorded at ₹ 1,47,110 per 100 grams.
-
Chennai: Due to local demand in the South Indian market Chennai, the price of 22 carat gold has crossed ₹ 1,47,500.
-
Lucknow and Jaipur: In these bullion markets of North India also, the prices remain at strong levels in line with Delhi.
Strong rise in silver prices also
Along with gold, silver prices also continue to rise sharply. Silver is trading near strong levels of ₹1,80,000 per kg in the retail market on strong demand from industrial units, solar panel makers and electronics companies. Due to tight supply and increasing demand in the global market, silver is rising faster than gold.
What are the main reasons behind the record rise in prices?
According to commodity and bullion market experts, many global and domestic factors are responsible for this historic rise in gold and silver prices:
-
Global geopolitical tensions: Due to increasing tensions in West Asia and internationally, there has been an increase in the purchase of gold as a safe haven asset.
-
Global Central Banks Purchases: Major central banks around the world are continuously increasing gold reserves in their forex reserves, providing strong support to prices.
-
Fluctuations in dollar index and interest rates situation: Spot gold on the international market (COMEX) remains strong due to the monetary policies of the US Federal Reserve and global currency market trends.
-
Domestic Demand and Festive Trends: Advance stock is being prepared by jewelers and retail buyers in view of the upcoming festival and wedding season in India.
Pay special attention to hallmarking while buying gold
Amid rising prices, experts recommend that customers should always buy hallmark gold with 6 digit HUID (Hallmark Unique Identification) code certified by the Bureau of Indian Standards (BIS). 24 karat gold is 99.9% pure and is mainly used for coins and bars, while 22 karat (91.6% purity) or 18 karat (75% purity) gold is used for making jewellery.