Precious-Metals

Gold Hits ₹77,913 per 10 Grams, Silver Reaches ₹95,700 per KG in India on December 27 — Silver Costs ₹17,787 More Than Gold

 

Today, 27th December 2024, gold and silver prices went significantly high in India. Price for 24-carat gold touched as high as ₹77,913 for 10 grams in Delhi. Here, the price had increased by ₹280 for 10 grams against yesterday's rate. 

In contrast, the silver price jumped to ₹95,700 per kilogram, that is, ₹1,000 above the rate in the previous day.

 

Gold increasing gradually in major Indian cities over time.

 

The cost of gold is rising steadily across major cities in India. In Delhi, today, the 24-carat gold price is ₹77,913 per 10 grams; it has been increasing for the past week. The increase in gold prices is part of a trend that has experienced a hike in gold rates due to various global and domestic factors. For example, in Chennai, the 24-carat gold price is ₹77,761 per 10 grams, while in Bangalore, it is ₹77,755. Other major cities, such as Hyderabad and Visakhapatnam, have also experienced the same upward trend in gold prices.

Gold prices fluctuated by -0.71% in the last week but have gained a small amount of 0.23% in the last month. This indicates stabilization in the value of gold, making it a popular investment choice despite short-term fluctuations.

 

Silver Prices Surge

 

Silver has rallied stronger than gold. The price of silver in Chennai is at ₹1,02,800 per kilogram. In Hyderabad and Vijayawada, silver is more than ₹1,03,000 per kilogram. Overall, the price of silver in India is ₹95,700 per kilogram, which has increased by ₹1,000 from yesterday.

The increasing prices of silver are mainly due to increasing demand in industrial applications and silver's growing popularity as an investment for uncertain times. Silver typically experiences price spikes during the festive season, making it more desirable in India, where silver is culturally significant.

 

Global and Domestic Factors Influencing Prices

 

Prices of both gold and silver are affected for various reasons, both globally and domestically. Global demand changes for precious metals are at the forefront in determining their prices. 

Changes in the value of US dollar, decisions on rates of interest, and general global geopolitical activities are common factors that are responsible for such fluctuations. Domestic Indian demand, mainly during festive seasons and weddings, is also responsible for the price surge.

 

Jewelers are not losing hope despite the fluctuation

 

Jewelers in India are still hopeful despite fluctuations. Experts predict gold and silver will be in strong demand as safe-haven investments in uncertain economic times. There may be a short-term change in the price, but the long-term prospect of precious metals is optimistic.

Gold and silver have been valued not only for ornamentation but also for providing stable investment opportunities. In that light, gold and silver will continue to hold their value for many years. They remain a top pick among investors nationwide.

 

Bright Future for Gold and Silver

 

Gold and silver prices are increasing; therefore, the interest in these metals is still very strong. The global economic situation will always be unstable, hence causing the demand for gold and silver to increase. Gold and silver are sure bets that will rise since their prices have increased continuously in all major cities in India.