Gold prices have seen a decline for the second consecutive day after the budget. The price of gold has decreased by up to Rs 400 on Tuesday, 4 February. 24 and 22 carat gold prices saw softening, which has given some relief to customers.
Today, the average price of 10 grams 24 carat gold is trading around Rs 84,100. The government did not increase import duty on gold in the budget, which has given relief to investors. This decision has also proved beneficial for common customers as gold prices are now coming down from their peaks.
Why is the price of gold beyond Rs 84,000?
International market instability and change in American policies are considering investors gold as a safe investment option, which has increased its prices.
Experts say that:
- If interest rates are cut and the market remains uncertain, then the prices of gold and silver may increase further.
- In India, the demand for gold during marriage and festivals increases, which can lead to further rise in its prices.
Gold prices fall in big cities including Delhi-Mumbai
On 4 February 2025, there has been a fall in 24 and 22 carat gold prices in major cities of the country including Delhi and Mumbai.
| City name | 22 carat gold rate (Rs/10 grams) | 24 carat gold rate (Rs/10 grams) |
|---|---|---|
| Delhi | 77,190 | 84,190 |
| Chennai | 77,040 | 84,040 |
| Mumbai | 77,040 | 84,040 |
| Kolkata | 77,040 | 84,040 |
Silver prices fall on 4 February
The price of silver has also been recorded.
- On 3 February, there was a softening of Rs 100 in the price of silver.
- According to the new rate, silver has come to Rs 99,300 per kg.
- Earlier, the price of silver was Rs 99,400 per kg.
- Silver still remains below its record level of Rs 1,00,000.
How is the price of gold fixed in India?
Gold prices in India depend on many factors, including:
Gold prices in international market
Government’s import duty and tax policy
Rupee price fluctuations
Demand for gold in the country (marriage, more demand during festivals)
Gold is not just a means of investment, but also an important part of Indian culture. Therefore, changes in its prices directly affect the pockets of common people.
