On February 2, 2025, gold prices in India saw a modest increase, reflecting a slight upward trend in the precious metals market. The cost of 24-carat gold is currently pegged at ₹8,466.3 per gram, marking an increase of ₹150.0 from previous rates. Meanwhile, 22-carat gold is priced at ₹7,762.3 per gram, which is a rise of ₹140.0. These fluctuations indicate a dynamic market influenced by various factors, both domestic and international.
Weekly and Monthly Price Trends
The price of 24-carat gold has experienced a minor decline of -0.75% over the past week, while the monthly change stands at a more significant -4.59%. This suggests that while there has been a recent uptick in prices, the overall trend in the preceding month has been downward.
In contrast, the current price of silver in India is ₹102,600.0 per kg, reflecting a decrease of ₹100.0 per kg. This decline in silver prices may be indicative of changing market dynamics and investor sentiment.
Gold Rates and Silver Prices in South Cities
Top 5 South Cities for Gold Rates in India
Gold Rate in Chennai
In Chennai, the gold rate today is ₹84,511.0 for 10 grams. This is a notable increase from yesterday’s rate of ₹83,051.0 and last week’s price of ₹82,431.0. The consistent rise in gold prices in Chennai reflects the city’s robust demand for gold, particularly during festive seasons.
Gold Rate in Bangalore
Bangalore’s gold rate today stands at ₹84,505.0 for 10 grams, up from ₹83,045.0 yesterday and ₹82,425.0 last week. The steady increase in prices suggests a growing interest in gold investments among Bangalore’s residents.
Gold Rate in Hyderabad
In Hyderabad, the gold rate is ₹84,519.0 for 10 grams, showing an increase from ₹83,059.0 yesterday and ₹82,439.0 last week. The city’s vibrant jewelry market continues to drive demand for gold.
Gold Rate in Visakhapatnam
Visakhapatnam’s gold rate today is ₹84,527.0 for 10 grams, up from ₹83,067.0 yesterday and ₹82,447.0 last week. The city’s coastal location and economic activities contribute to its gold consumption.
Gold Rate in Vijayawada
Vijayawada reports a gold rate of ₹84,525.0 for 10 grams, reflecting an increase from ₹83,065.0 yesterday and ₹82,445.0 last week. The city’s growing economy is likely influencing the demand for gold.
Top 5 South Cities for Silver Rates in India
Silver Prices in Chennai
Silver prices in Chennai today are ₹109,700.0 per kg, up from ₹108,800.0 yesterday and ₹107,600.0 last week. The increase in silver prices indicates a rising interest in silver as an investment.
Silver Prices in Bangalore
In Bangalore, silver prices today are ₹101,600.0 per kg, reflecting an increase from ₹100,700.0 yesterday and ₹99,500.0 last week. The city’s diverse economy supports a steady demand for silver.
Silver Prices in Hyderabad
Hyderabad’s silver prices today are ₹110,300.0 per kg, up from ₹109,400.0 yesterday and ₹108,200.0 last week. The city’s cultural affinity for silver jewelry contributes to its demand.
Silver Prices in Visakhapatnam
In Visakhapatnam, silver prices are ₹108,700.0 per kg, an increase from ₹107,800.0 yesterday and ₹106,600.0 last week. The city’s industrial growth may be influencing silver demand.
Silver Prices in Vijayawada
Vijayawada reports silver prices of ₹111,100.0 per kg, up from ₹110,200.0 yesterday and ₹109,000.0 last week. The city’s economic activities likely support this demand.
Factors Affecting Gold Rates and Silver Prices
The prices of gold and silver are subject to constant fluctuations influenced by a myriad of factors:
Global Demand: The overall demand for gold and silver worldwide plays a significant role in price changes. Increased demand from countries like India and China can drive prices higher.
Currency Fluctuations: Changes in the value of currencies, particularly the US dollar, can affect the attractiveness of gold and silver as investments. A stronger dollar typically leads to lower prices for these metals.
Interest Rates: Higher interest rates can make gold and silver less attractive as investments since they do not yield interest income. Investors may prefer interest-bearing assets during such times.
Government Regulations: Policies and regulations related to the gold and silver trade can impact prices. For instance, import duties or restrictions can affect supply and demand dynamics.
World Events: Economic conditions, geopolitical events, and other global factors can influence the demand for and price of precious metals. Uncertainty often drives investors towards gold as a safe haven.
Insights from Jewelers
Jewelers, as experts in the precious metals industry, can provide valuable insights into market trends and potential price movements. Their expertise can help consumers make informed decisions regarding their investments in gold and silver.
For those interested in checking the gold prices in major northern cities, click here.
This article provides a snapshot of the current gold and silver prices in India, reflecting the ongoing trends in the precious metals market. As always, staying informed about market dynamics is crucial for making sound investment decisions.
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