Since the budget, gold prices have been increasing continuously. Gold prices rose again on 7 February 2025, Friday. The prices of 24 and 22 carat gold increased by up to Rs 400. The price of 10 grams of gold in major cities of the country has reached above Rs 86,500.
Why did the price of gold reach beyond Rs 86,000?
- Due to international market fluctuations and changes in American policies, investors are considering gold as a safe property, increasing its demand and price.
- Potential cuts in interest rates and market uncertainty are also the cause of prices hike.
- In India, the demand for gold increases during the wedding and festivals, which can lead to further prices.
24 and 22 carat gold prices in Delhi-Mumbai
The price of 24 carat gold in Delhi reached Rs 86,670 per 10 grams, while the price of 22 carat gold was Rs 79,460. In Mumbai, 24 carat gold is trading at Rs 86,520 and 22 carat at Rs 79,310 per 10 grams.
Gold rate (Rs 10 grams per 10 grams) on 7 February 2025 in major cities of the country
| City | 22 carat gold rate | 24 carat gold rate |
|---|---|---|
| Delhi | 79,460 | 86,670 |
| Chennai | 79,310 | 86,520 |
| Mumbai | 79,310 | 86,520 |
| Kolkata | 79,310 | 86,520 |
Silver price rises on 7 February
The price of silver has increased to Rs 99,400 per kg. If the rapid trend continues, the silver can cross the level of Rs 1,00,000 per kg.
How is the price of gold fixed in India?
The price of gold in India depends on many factors, including:
- Gold prices in international market
- Government tax and import duty
- Status against the rupee’s dollar
- Increase in demand during marriage and festivals
In India, gold is not only a source of investment, but is considered an important part of the cultural tradition. When the demand increases, prices are seen to be seen, which also affects the purchase of common people.
