Gold and Silver Prices Fluctuate; Check Today's Rates. 22-karat gold is 91.6% pure; hallmarking verification is essential before purchase.
Gold and Silver Prices: Gold and silver prices are exhibiting continuous fluctuations. New prices will be released on Monday, March 3rd, 2025. Last week, Friday saw a decrease in prices for both gold and silver. The price of 24-karat gold fell from ₹85,593 per 10 grams to ₹85,056, while silver dropped from ₹95,048 per kilogram to ₹93,480.
According to market experts, this decline in gold and silver prices is attributed to weakness in the global market. Reduced investor demand and the strengthening US dollar have impacted the prices of these precious metals.
Reasons for Fluctuations in Gold and Silver Prices
Gold and silver prices depend on global and domestic economic conditions. Recent economic slowdown in America and Europe, rising inflation, and potential changes in interest rates are contributing to price volatility.
Furthermore, gold prices are influenced by supply and demand. Demand increases during wedding and festival seasons in India, leading to price hikes. Conversely, when investors allocate more funds to the stock market, gold investment decreases, resulting in lower prices.
Why is Hallmark Verification Crucial When Buying Gold?
Hallmarking is crucial for verifying the purity of gold. A hallmark guarantees gold quality and is certified by the Bureau of Indian Standards (BIS).
Main Hallmark Marks:
999 Hallmark - 24-karat gold (99.9% purity)
958 Hallmark - 23-karat gold (95.8% purity)
916 Hallmark - 22-karat gold (91.6% purity)
875 Hallmark - 21-karat gold (87.5% purity)
750 Hallmark - 18-karat gold (75% purity)
585 Hallmark - 14-karat gold (58.5% purity)
Sometimes, merchants try to sell adulterated gold with a hallmark; therefore, always purchase from authorized jewelers.
Decline in Gold and Silver Prices in the Futures Market
Weak spot demand and global market slowdown have also led to a decrease in gold and silver prices in the futures market. On the Multi Commodity Exchange (MCX), the April gold futures contract price decreased by ₹446 to ₹84,750 per 10 grams.
Similarly, silver prices fell by ₹333, reaching ₹93,302 per kilogram. Market experts suggest that the US Federal Reserve's policies and global economic conditions might cause further price fluctuations in precious metals in the coming days.
Will Gold Prices Rise in the Coming Days?
Experts believe the current gold price decline may be temporary. Global uncertainty persists, and if inflation increases or economic crises deepen, gold demand could rise, leading to price increases.
If you're considering investing in gold, this might be a favorable time due to the slight market dip. However, understanding market trends before investing is essential.
What to Do – Buy Gold Now or Wait?
If you plan to buy jewelry, verify the hallmark and purchase from a reputable jeweler. Gold is always considered a safe investment option for investors, making it a potentially good opportunity for long-term investment.
