Gold Prices Increased
Gold and Silver Price Today: Gold and silver prices have seen a sharp rise in recent days. Meanwhile, silver has reached a new record high. The price of 10 grams of gold has increased by nearly ₹1,400 in just one day.
With the start of the festive season, gold and silver prices have seen a dramatic surge. Today, September 30th, gold prices across India rose by ₹1,400 in a single day, creating a stir among buyers and investors. Silver also surprised the market, jumping by ₹1,000 to a new record.
With special occasions like weddings and Dhanteras approaching, people are already turning to precious metals, and this surge could further impact them. Let’s find out the latest rates in your city today…
silver situation
Silver prices also touched a record high today, reaching nearly ₹151,000 per kilogram. On Monday, silver prices in Delhi rose ₹7,000 to a lifetime high of ₹1.5 lakh per kilogram. Significantly, silver prices in the national capital saw a rise for the fourth consecutive day.
Key factors affecting gold and silver prices in India
Gold and silver prices are determined by markets around the world. When global investors sense instability or economic uncertainty, they increase their investment in these metals, driving prices higher. When the market becomes bullish, investors panic and adopt a buy-now mentality. This sentiment itself drives prices higher.
Gold is mostly imported into India and sold in the international market for dollars. If the rupee weakens against the dollar, gold and silver become more expensive in India. Furthermore, government duty, GST, transportation costs, and local traders’ margins also add to the overall price. These increases lead to higher retail prices. Meanwhile, gold in India is not only an investment, but also holds ritual significance. Demand increases during festivals, weddings, and varmala ceremonies, putting pressure on prices.
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