nCheck the latest rates in Hyderabad, Delhi, Mumbai, and more

 

In a dramatic push that’s turning heads in both financial and retail markets, Indian gold and silver prices have touched new records. With 24-carat gold crossing ₹90,000 per 10 grams and silver breaking ₹1 lakh per kilogram in various cities, customers are getting the heat. 

The summit's timing is opportune, aligning with the wedding and festival seasons in the country, typically marked by significant jewelry purchases. The surge in bullion prices is driven by a convergence of factors, including global economic uncertainty, growing inflation concerns, and a renewed interest in safe-haven assets.

 

Gold Prices See Steady Rise

 

Gold prices were consistently high in all top cities. Hyderabad, Chennai, and Bhubaneswar saw 24-carat gold at ₹90,380 per 10 grams and 22-carat gold reaching ₹82,850 per 10 grams. Indian cities like Delhi and Lucknow had a marginal price hike, with 24-carat gold at ₹90,530 and 22-carat gold at ₹83,000 per 10 grams. Mumbai and Kolkata, which set important price trends, followed Hyderabad’s price levels.

Experts opine that increasing overseas gold prices, along with a weakening rupee, are directly responsible for this upsurge. Also, expectations of rate cuts in foreign markets and geopolitical tensions are leading investors to precious metals.

 

Silver Hits Rupees 1 Lakh Per Kilogram in Indian Cities

 

Silver, also referred to as the “poor man’s gold,” is closely following its fellow metal with robust activity. While the rates hit ₹1,03,000 per kg in Hyderabad and Chennai, it stood at ₹1,02,900 in Bhubaneswar. The prices were considerably lower in Delhi, Mumbai, and Kolkata, around ₹94,000 per kg. And Lucknow emerged with the lowest price of ₹93,900 per gram.

The leap in silver prices, according to market participants, is mainly attributed to industrial demand, especially in solar and electronics industries as well as investors’ demand for physical bullion.

 

City-Wise Gold and Silver Price

 

City Gold (22K/10g) Gold (24K/10g) Silver (Per Kg)
Hyderabad ₹82,850  ₹90,380  ₹1,03,000
Delhi ₹83,000  ₹90,530 ₹94,000
Mumbai ₹82,850  ₹90,380  ₹94,000
Kolkata ₹82,850  ₹90,380  ₹94,000
Chennai ₹82,850  ₹90,380  ₹1,03,000
Bhubaneswar ₹82,850  ₹90,380  ₹1,03,000
Lucknow ₹83,000  ₹90,530 ₹93,900

Source: Goodreturns

 

Experts Advise Caution Amid Price Volatility

 

Experts warn that although gold is still a good inflation hedge and an uncertainty cushion, consumers, especially retail buyers, ought to be cautious. “We suggest staggered buying for the consumer and systematic investment plans for investors. There’s no use in bulk buying at such a volatile time,” advised Rajiv Mehta, Mumbai-based bullion expert.

 

Conclusion: All Eyes on the Next Global Trigger

 

As international markets respond to inflation reports, central bank actions, and geopolitical events, Indian bullion prices are likely to remain volatile. With the wedding season coming up, numerous families are now left with a difficult decision, whether to purchase now or wait for possible corrections. As the precious metal market continues its ascendancy, the average consumer finds himself weighing tradition against expense.

For the time being, both silver and gold have reasserted themselves, not as mere ornaments of beauty but as tools of economic security. Everybody’s eyes now are on the next world trigger that will either dampen the rally or shoot prices higher and higher.