Rise in gold prices, silver also became expensive

With the beginning of the new year, a continuous rise in gold prices is being seen. Today, Saturday, January 4, 2025, the price of gold has increased by Rs 750. In most cities of the country, the price of 24 carat gold is around ₹79,300 per 10 grams and the price of 22 carat gold is around ₹72,700 per 10 grams. Let us know the price of gold in your city.

Silver also became expensive on January 4, 2025

• Silver Price: Today the rate of 1 kg silver in the country has become ₹ 92,500.
• Reason for the rise: The price of silver has increased by ₹ 2,000, which was earlier ₹ 90,500.

Why are gold prices increasing?

There are many reasons behind the rise in gold prices:

1. Strength in international market:
   In the international market, gold is trading above $2,640 an ounce, due to which domestic prices increased.
2. Demand in Domestic Market:
   Prices have increased due to investors’ search for safe options and local demand.
3. Rupee weakness:
   Weakness in the rupee against the US dollar also played a role in increasing the prices of gold.
4. Economic Uncertainty:
   Volatility in global economic conditions and data like unemployment and PMI from the US can bring fluctuations in gold prices.

4 January 2025: Gold rates in cities

How is the price of gold decided?

The price of gold depends on many factors:

1. Local Demand: Demand and supply in the local market have a direct impact on prices.
2. International market impact: Prices are influenced by the global gold rate, dollar-rupee exchange rate, and the policies of the US Federal Reserve.
3. Economic conditions: In times of global and domestic economic instability, gold is considered a safe investment, due to which its demand increases.