The prices of gold and silver have been fluctuating for a long time. Now that the wedding season has started from today, changes are being seen in the prices of gold and silver. Talking about the prices of gold on January 16, the price of 24 carat gold has increased by Rs 110 while the price of 22 carat gold has increased by Rs 100. So let us know how much gold is there in the metropolis
latest silver prices
today’s silver price
The price of one kg silver in the country is Rs 93,500. The price of silver has increased by Rs 1,000. Earlier the price of silver was Rs 92,500. However, in the year 2024, the price of one kg silver will cross Rs 1,00,000. Silver prices have still not returned to their old peak. It remains to be seen how successful silver will be in reaching its previous peak this year.
Demand for gold increased in the domestic market
The demand for gold increases rapidly during the wedding season, due to which its prices remain high. People buy gold not only for making jewelery but also as a safe investment. The strengthening of gold prices in the international market and increasing interest of investors have further increased its prices. Now it remains to be seen when gold reaches the level of Rs 85000.
Gold price in these cities on 16 January
| city name | 22 carat gold rate | 24 carat gold rate |
| Delhi | 73,550 | 80,220 |
| Jaipur | 73,550 | 80,220 |
| Lucknow | 73,550 | 80,220 |
| Mumbai | 73,400 | 80,070 |
| Kolkata | 73,400 | 80,070 |
| Ahmedabad | 73,450 | 80,120 |
| Bengaluru | 73,400 | 80,070 |
Who sets the price?
The worldwide price of gold is set by the London Bullion Market Association (LBMA). It publishes gold prices in US dollars, which serves as a global benchmark for bankers and bullion traders. Whereas in our country the Indian Bullion Jewelers Association (IBJA) adds import duty and other taxes to the international price of gold and decides at what rate the gold will be offered to the retailers.
Why are prices rising?
The price of gold has been increasing continuously for the last few days. Experts say that the weakness of the rupee against the dollar and the rise in crude oil prices have led to the rise in gold prices. He says that prices are increasing due to industrial use of silver. Let us tell you that last year the prices of gold and silver created many new records. Experts say that gold will prove to be a profitable investment even in 2025.
