Today, 31 January 2025, on Friday, the price of gold has increased. Sleeping has become expensive a day before the budget. There is speculation in the market that in the Union Budget to appear on 1 February 2025, the government may increase import duty on gold, which was reduced in the previous budget. If this happens, the price of gold can be seen further. Today, the price of 24 and 22 carat gold has been increased by up to Rs 300.
Why gold is getting expensive before the budget?
Gold and silver prices are steadily increasing before budget 2025. The main reason behind this is the increasing demand of investors and common buyers.
- Due to instability in the global market and change in American policies, people are purchasing gold as a safe investment.
- Potential cuts in interest rates and uncertainty of the international market can move up gold prices.
- Experts believe that gold prices may increase further after the budget, especially if the government changes import duty.
Increasing demand for gold and silver in India
In India, the demand for gold in India and festive season naturally increases.
- The price of gold may increase further due to high demand in the coming months.
- If import duty is increased in the budget, then it will directly affect prices.
- Experts estimate that by June 2025, the price of gold can reach Rs 85,000 per 10 grams.
Price of 24 and 22 carat gold in Delhi-Mumbai
Today, gold prices have registered a rise in Delhi and Mumbai.
| City name | 22 carat gold rate (Rs/10 grams) | 24 carat gold rate (Rs/10 grams) |
|---|---|---|
| Delhi | 76,260 | 83,180 |
| Chennai | 76,110 | 83,030 |
| Mumbai | 76,110 | 83,030 |
| Kolkata | 76,110 | 83,030 |
- In Delhi, 24 carat gold has reached Rs 83,180 per 10 grams and 22 carat gold at Rs 76,260 per 10 grams.
- In Mumbai, 24 carat gold is trading at Rs 83,030 and 22 carat gold at Rs 76,110 per 10 grams.
Silver price also rises on 31 January
Today, the price of silver has increased by Rs 2,000.
- On 31 January 2025, the silver price has increased to Rs 98,600 per kg.
- Silver has reached close to a record level of Rs 1,00,000.
- If the market continues to rise, silver prices may increase further.
How is the price of gold decided?
The price of gold in India depends on many factors, which are prominent:
- Gold prices in international market
- Government’s import duty and tax policy
- Rupee price fluctuations
- Increasing demand due to marriage and festivals
- Investors’ tendency and change in interest rates
Gold is not just an investment medium, but also an important part of Indian culture. Therefore, the change in its prices directly affects the pockets of the common people.
