The rising trend of gold prices continues. 24 carat and 22 carat gold prices An increase of up to ₹ 550 has been recorded. Currently the average price of 24 carat gold is trading above ₹80,600. In states like Delhi, Rajasthan, Uttar Pradesh and Haryana, the price of 24 carat gold has crossed ₹ 80,700.
Looking at the rising price of gold, it seems that it will soon reach its peak. Peak of year 2024 ₹ 82,000 per 10 grams Can touch the level of Rs. Market experts are now keeping an eye on when gold reaches its previous highest level.
17 January 2025: Huge jump in silver prices
Silver prices are also increasing rapidly. Currently, the price of one kilogram of silver is at ₹95,500, which is ₹2,000 more than the previous day.
- Earlier the price of silver was ₹ 93,500.
- In the year 2024, silver would have crossed the level of ₹ 1,00,000 per kg.
Given this rise, there is talk in the market that silver may also touch its previous record level soon.
22 carat gold prices
Commonly used for jewelery manufacturing in India 22 carat gold is used.
- Currently the price of 22 carat gold is trading above ₹74,000 in major cities of the country.
- The costliness of gold has a direct impact on the prices of jewellery, due to which gold jewelery becomes expensive.
Why is gold becoming expensive in the domestic market?
There are several important reasons behind the increase in gold prices:
- Festivals and wedding season:
Gold prices have increased due to increasing demand for jewellery.
- Safe Investment:
In times of economic uncertainty, people consider gold as a safe investment, due to which its purchase increases.
- Impact of International Market:
The strengthening of gold prices in the global market and the weakness of the rupee against the dollar are also affecting the prices.
- Import duties and investor interest:
A large part of gold is imported in India, hence the increase in import duty affects its prices.
Gold prices on January 17, 2025 (in major cities)
| city name | 22 carat gold rate | 24 carat gold rate |
|---|---|---|
| Delhi | ₹74,050 | ₹80,770 |
| Noida | ₹74,050 | ₹80,770 |
| Ghaziabad | ₹74,050 | ₹80,770 |
| Jaipur | ₹74,050 | ₹80,770 |
| Gurgaon | ₹74,050 | ₹80,770 |
| Lucknow | ₹74,050 | ₹80,770 |
| Mumbai | ₹73,900 | ₹80,070 |
| Kolkata | ₹73,900 | ₹80,070 |
| Patna | ₹73,950 | ₹80,120 |
| Ahmedabad | ₹73,950 | ₹80,120 |
| Bhubaneswar | ₹73,900 | ₹80,070 |
| Bengaluru | ₹73,900 | ₹80,070 |
How is the price of gold determined in India?
Gold prices in India depend on several factors:
- Impact of International Market:
Gold prices in the bullion markets of New York and London directly affect the Indian market.
- Exchange rate of rupee and dollar:
The weakness of the rupee against the dollar increases the price of gold, as India imports gold.
- Import Duty:
Gold is imported into India in large quantities, and increase in import duty pushes up prices.
- Demand and Supply:
Due to increase in demand for gold during wedding and festival seasons, its prices increase.
- Global events:
In times of political and economic uncertainty the demand for gold increases, which also increases prices.
