KKN Gurugram Desk | The price of gold continues to rise consistently, making headlines globally. On 16 March 2025, gold reached an all-time high in the US markets, crossing the $3,000 per ounce mark for the first time. This surge can be attributed to a confluence of global economic uncertainties, the possibility of interest rate cuts by the US Federal Reserve, and concerns about potential trade wars, all of which have driven investors toward gold as a safe haven. Over the past week, 24-carat gold prices have increased by ₹1,960, while 22-carat gold has seen a rise of ₹1,800. Let’s take a closer look at today’s gold and silver rates, as well as some key factors that influence these prices.
Gold Price Update for 16 March 2025
The global market has seen a notable surge in gold prices recently, and India is no exception. The demand for gold is driven not only by its value as a safe investment but also due to cultural reasons, as it is an integral part of weddings and festivals in India. As of today, the price of gold continues to soar, reflecting broader market trends.
Gold Prices in Major Cities on 16 March 2025
Here are the latest gold prices for 22-carat and 24-carat gold in major cities across India:
City
22 Carat (₹/10 grams)
24 Carat (₹/10 grams)
Delhi
82,350
89,820
Mumbai
82,200
89,670
Kolkata
82,200
89,670
Chennai
82,200
89,670
Jaipur
82,350
89,820
Lucknow
82,350
89,820
Chandigarh
82,350
89,820
Hyderabad
82,200
89,670
Ahmedabad
82,250
89,720
Bhopal
82,250
89,720
As seen above, prices are nearly the same across major cities, with small regional variations. The price difference between 22-carat and 24-carat gold typically reflects the purity of the gold.
Surge in Silver Prices
Along with gold, silver has also seen a significant rise in prices. Over the last week, the price of silver has surged by ₹3,900 per kilogram. This increase is attributed to the same global economic factors influencing the price of gold, such as market uncertainty and the shifting financial landscape.
On 16 March 2025, the price of silver is ₹1,03,000 per kilogram. Just a few days ago, on 15 March, silver was priced at ₹99,500 per kilogram in Indore, and on 13 March in Delhi, the price stood at ₹1,01,200 per kilogram.
How Are Gold Prices Determined in India?
In India, the price of gold is determined by several factors, including the global market price, import duties, taxes, and fluctuations in the value of the Indian rupee. Gold is not only considered a valuable investment but also holds immense cultural significance. During weddings and festivals, the demand for gold surges, driving the prices higher.
The fluctuating international gold rates, changes in the domestic currency value, and government-imposed import duties also impact the gold prices. For example, when the global price of gold increases due to geopolitical instability or inflation concerns, it directly affects the local market price in India.
The Purity of Gold: Understanding the Different Carats
Gold purity is typically measured in carats (K), and each level of purity corresponds to the percentage of gold in the alloy. In India, the most commonly sold gold is 22-carat gold, followed by 18-carat gold in some cases.
24-carat gold is 99.9% pure gold, making it the highest purity level.
22-carat gold is about 91.6% pure, with the remaining portion made up of other metals like copper, silver, or zinc to give the gold jewelry the required strength and durability.
Although 24-carat gold is the purest form, it is not ideal for making jewelry due to its softness. Therefore, most jewelry in India is made using 22-carat gold, which offers a balance between purity and durability.
How to Identify Gold Purity
Gold purity is generally indicated by its hallmark, which is certified by the Bureau of Indian Standards (BIS). This hallmark ensures that the gold is tested for authenticity and purity. Here are the common hallmark markings you can find on gold jewelry:
24 Carat: 999 (99.9% pure gold)
23 Carat: 958 (95.8% pure gold)
22 Carat: 916 (91.6% pure gold)
21 Carat: 875 (87.5% pure gold)
18 Carat: 750 (75% pure gold)
If you’re buying gold, ensure you purchase from a trusted jeweler who provides hallmark certification. This guarantees the authenticity and purity of the gold.
The Difference Between 22-Carat and 24-Carat Gold
The primary difference between 22-carat and 24-carat gold lies in purity. 24-carat gold is 99.9% pure, while 22-carat gold contains about 91.6% pure gold, with the rest made up of other metals. While 24-carat gold is softer and cannot be used to make jewelry, 22-carat gold is stronger and suitable for crafting jewelry.
In most cases, 22-carat gold is preferred by buyers for its combination of purity and durability. Though 24-carat gold is considered the purest, it is not always practical for making jewelry due to its softness.
How to Check Gold Prices via Missed Call
To check the retail rates of 22-carat and 18-carat gold jewelry, you can give a missed call to 8955664433. You will receive the latest rates via SMS. Alternatively, you can visit websites like ibja.co or ibjarates.com for continuous updates.
Importance of Hallmarking
When buying gold, it’s essential to check for the hallmark to ensure you’re purchasing authentic and pure gold. Hallmarking is a government-mandated certification system carried out by the Bureau of Indian Standards (BIS). The BIS Hallmarking Scheme provides a guarantee that the gold you are buying meets the required purity standards. It is advisable to buy gold jewelry that has this certification to avoid any discrepancies regarding purity.
Conclusion
The rising gold and silver prices, combined with global market uncertainties, have made precious metals a more attractive investment option. Today, 16 March 2025, marks a significant shift as gold prices have reached historic levels, crossing $3,000 per ounce in the US. In India, the increase in gold and silver prices reflects global trends, along with local factors such as demand during festivals and weddings.
As the market continues to fluctuate, it is important to stay updated on the latest prices and understand the purity of gold before making any investment. Gold remains an essential part of Indian culture, and its role as a safe investment only reinforces its importance. Keep in mind the impact of market changes, government policies, and global economic factors when buying gold. Whether you’re purchasing for investment purposes or for personal use, always ensure that you’re buying authentic gold with the necessary certifications to guarantee its value.
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