In a notable development for the bullion markets today, silver prices have continued their upward trajectory, while gold prices have experienced a slight decline. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has dropped by Rs 146 per 10 grams, opening at Rs 95,667 without GST. When including the 3% Goods and Services Tax (GST), the retail rate stands at Rs 98,537. In contrast, silver has seen an increase of Rs 448, now priced at Rs 97,357 per kg, which translates to Rs 1,00,277 per kg after GST.
Price Changes for All Gold Categories
The decline in gold prices is not limited to 24-carat gold; all categories of gold have seen a decrease. Here’s a breakdown of the current prices for various purities:
23-carat Gold: Opened at Rs 95,284 per 10 grams, down by Rs 145.
22-carat Gold: Commonly used for jewelry, this category dropped by Rs 134 to Rs 87,631 per 10 grams.
18-carat Gold: Fell by Rs 110, now priced at Rs 71,750.
14-carat Gold: Experienced a decrease of Rs 86, bringing the price to Rs 55,965 per 10 grams.
It’s important to note that these prices reflect IBJA’s midday spot rates and do not include GST or local jewelry-making fees. Prices can vary by Rs 1,000 to Rs 2,000 across different cities.
Gold Nears Record High
Despite today’s minor decline, gold remains close to its record high of Rs 99,100 per 10 grams, achieved on April 22, 2025. Currently, it is only Rs 3,433 less than this peak. Since the beginning of 2025, gold has appreciated by Rs 19,927, while silver has risen by Rs 11,340.
To put this in perspective, gold was valued at Rs 76,045 per 10 grams and silver at Rs 85,680 per kg on December 31, 2024. On that day, silver closed at Rs 86,017 per kg, while gold finished at Rs 75,740. This significant rise in value highlights the ongoing trends in the bullion market.
Factors Influencing the Market
The fluctuations in gold and silver prices are influenced by a combination of domestic demand trends and global economic cues. Investors and consumers are closely monitoring these developments, as they can significantly impact purchasing decisions and investment strategies.
The current market dynamics suggest a cautious optimism among investors, with many looking for opportunities to capitalize on price movements. The interplay between supply and demand, along with geopolitical factors, continues to shape the landscape of the bullion market.
Conclusion
As the bullion market evolves, today’s price changes reflect a complex interplay of various factors. While gold has seen a slight decline, it remains near record highs, indicating strong underlying demand. Silver’s rise adds another layer of interest for investors and consumers alike. With ongoing developments in both domestic and global markets, stakeholders are advised to stay informed and consider the broader economic context when making decisions.
For those interested in the latest market trends, keep an eye on updates and analyses, as they can provide valuable insights into future price movements.
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