Domestic bullion market sees gold prices rise for the second consecutive day. Silver prices also remain firm, supported by increasing demand and global uncertainty.
Gold-Silver Price Today: The upward trend in gold and silver prices continues in the domestic bullion market. Gold has become more expensive for the second day in a row, and silver has also shown strength. After two days of stability, gold prices have seen an increase, while silver has maintained the momentum of the past few sessions. It is important for investors and buyers to know the current prices of gold and silver in different cities and what the future direction might be.
Latest Gold Rates in Delhi
In the capital city of Delhi, 24-carat gold is up ₹10 per 10 grams today. Similarly, the price of 22-carat gold has also increased by ₹10. Although this increase may seem small, the trend over the past two days paints a different picture. Over the past two days, the price of 24-carat gold has increased by ₹1980 per 10 grams, while 22-carat gold has become ₹1810 more expensive. This rise indicates growing demand and investor interest in the market.
Gold Prices in Other Major Cities
Gold prices in other major metropolitan cities are also following a similar trend. In cities like Mumbai, Kolkata, Bengaluru, and Hyderabad, the price of 24-carat gold is around the same as in Delhi. Chennai has relatively higher gold prices, where 24-carat gold is selling at a premium compared to other cities in the country. In North Indian cities like Lucknow and Jaipur, gold prices are at the same level as in Delhi. Overall, a consistent firmness is visible in gold prices across the country.
Strength Also Seen in 18-Carat Gold
Prices of 18-carat gold are also important for those buying jewelry. Today, the prices of 18-carat gold are also at higher levels. Prices in cities like Delhi, Mumbai, Kolkata, and Bengaluru are almost the same, while the price of 18-carat gold in Chennai is higher than in other cities. This clearly indicates that both the demand and prices for gold are b in South India.
Silver Also Gains Momentum
Along with gold, the shine of silver is also visible for the second consecutive day. In Delhi, one kilogram of silver has become ₹100 more expensive today, reaching a price of ₹2,19,100 per kilogram. Over the past two days, silver prices have increased by a total of ₹5100. Previously, silver prices remained stable for one day and saw a rise of ₹5000 the day before that. However, silver had also become ₹2000 cheaper in a previous session, but overall, the current trend indicates an upward movement.
Silver Prices in Metropolitan Cities
Regarding the major metropolitan cities in the country, silver is selling at almost the same price in Delhi, Mumbai, and Kolkata. However, Chennai has the most expensive silver, where one kilogram of silver costs ₹2,31,100. This difference reflects regional demand and local market conditions. Silver consumption is relatively higher in South India, which is clearly reflected in the prices.
Why are Gold and Silver Prices Increasing?
Several reasons are being cited for the rise in gold and silver prices. Uncertainty in the international market, demand for safe investments, and growing interest from long-term investors are supporting the precious metals. In addition, jewelry demand during the wedding and festival season also supports prices. As for silver, it is also used in the industrial sector, which maintains its demand.
What Could be the Future Trend for Gold?
Large estimates are also emerging at the global level regarding the future trend of gold. American economist and veteran market strategist Ed Yardeni believes that a significant rise could be seen in gold by the end of this decade. According to CNBC-TV18, Ed Yardeni, President of Yardeni Research, says that by 2029, the price of gold could reach $10,000 per ounce in the international market.
Signal from International Market to Indian Prices
Currently, the price of gold on COMEX in New York is trading around $4,400 per ounce. If Yardeni's estimate proves correct and gold reaches this level of $10,000, a significant impact could be seen in the Indian market as well. If prices continue to rise at this pace, gold in the Indian market could cross ₹3.00 lakh per 10 grams by 2029, with a surge of around 127 percent.
