With the beginning of the new year, a continuous rise in gold prices is being seen. Gold in India has now reached close to ₹80,000 per 10 grams. The price of 24 carat gold is trading at ₹79,800 per 10 grams in major cities of the country, while 22 carat gold is at the level of ₹73,150. Since jewelery is mostly made from 22 carat gold, this price increase is having a direct impact on buyers.
Let us understand, is it right to invest in gold or buy jewelery at this time, or should we wait for the price to fall.
12 January 2025: Increase in silver prices
A rise in silver prices has also been recorded.
- silver rate: ₹93,500 per kg
- price of 2024: Silver had crossed the level of ₹ 1,00,000 per kg.
However, it has not yet returned to its old high level. Experts estimate that the price of silver may go up to ₹1.50 lakh per kg in future.
Increasing demand for gold during wedding season
The demand for gold increases during the wedding season in India.
- Reason for increased demand:
- Buying gold in the form of jewellery.
- Interest in gold as a safe investment.
- International Factors:
The strength of gold in the global markets and increasing interest from investors have taken the prices to high levels.
At times of economic uncertainty, gold emerges as a reliable investment option.
Will gold cross ₹80,000 level?
Experts say that gold prices are rising due to the weakness of the rupee and international economic factors.
- Major reasons:
- Rupee decline:
Gold is becoming expensive due to weakening of rupee against dollar.
- US Economic Reports:
Unemployment rate and PMI data may impact prices in the coming days.
- Investors’ Trends:
The prices are continuously increasing due to the increasing number of investors.
- Rupee decline:
12 January 2025: Latest gold prices (₹/10 grams)
| city name | 22 carat gold rate | 24 carat gold rate |
|---|---|---|
| Delhi | ₹73,150 | ₹79,800 |
| Noida | ₹73,150 | ₹79,800 |
| Ghaziabad | ₹73,150 | ₹79,800 |
| Jaipur | ₹73,150 | ₹79,800 |
| Gurgaon | ₹73,150 | ₹79,800 |
| Lucknow | ₹73,150 | ₹79,800 |
| Mumbai | ₹73,000 | ₹79,640 |
| Kolkata | ₹73,000 | ₹79,640 |
| Patna | ₹73,050 | ₹79,700 |
| Ahmedabad | ₹73,050 | ₹79,700 |
| Bhubaneswar | ₹73,000 | ₹79,640 |
| Bengaluru | ₹73,000 | ₹79,640 |
How is the price of gold determined in India?
Gold price in India depends on many factors:
- International market:
Global bullion markets like New York and London have a direct impact on the Indian gold price.
- Exchange rate of rupee and dollar:
The weakness or strength of rupee affects gold prices.
- demand and supply:
The demand for gold increases during wedding seasons and festivals, due to which the price rises.
- Import Duty:
India is a big importer of gold. Changes in import duty also affect gold prices.
Is it right to buy gold at this time?
In view of the continuous increase in gold prices, this time can be very important for investors.
- if you investment objectives If you are planning to buy gold from India, then it can prove beneficial in the long run.
- jewelery shopping One can also wait for the price to fall, but in the current situation the price is likely to increase further.
