As of February 5, 2025, gold prices have shown a modest increase, reflecting the dynamic nature of the precious metals market. In India, the cost of 24-carat gold is currently ₹8538.3 per gram, marking an increase of ₹1170.0. Meanwhile, the price of 22-carat gold stands at ₹7828.3 per gram, with a rise of ₹1070.0. This fluctuation in gold prices is indicative of various market forces at play.
Recent Trends in Gold Prices
Over the past week, the price of 24-carat gold has recorded a slight decline of -1.91%. However, when viewed over the last month, the change is more pronounced, with a decrease of -6.83%. Such fluctuations are not uncommon in the gold market, which is influenced by a myriad of factors ranging from global demand to currency fluctuations.
Current Silver Prices
In addition to gold, silver prices are also experiencing changes. The current price of silver in India is ₹101500.0 per kg, reflecting a decrease of ₹1000.0 per kg. This decline in silver prices adds another layer of complexity for investors and consumers alike, as they navigate the precious metals market.
Gold Rates and Silver Prices in South Cities
The gold and silver markets can vary significantly across different regions. Here’s a look at the current rates in some major southern cities in India.
Top 5 South Cities for Gold Rates in India
Gold Rate in Chennai
In Chennai, the gold rate today is ₹85231.0 for 10 grams. This is an increase from yesterday’s rate of ₹84501.0 and a notable rise from last week’s price of ₹82881.0.
Gold Rate in Bangalore
Bangalore’s gold rate today is ₹85225.0 for 10 grams, up from ₹84495.0 yesterday and ₹82875.0 last week.
Gold Rate in Hyderabad
In Hyderabad, the gold rate is ₹85239.0 for 10 grams, reflecting an increase from ₹84509.0 yesterday and ₹82889.0 last week.
Gold Rate in Visakhapatnam
Visakhapatnam sees a gold rate of ₹85247.0 for 10 grams, up from ₹84517.0 yesterday and ₹82897.0 last week.
Gold Rate in Vijayawada
Vijayawada’s gold rate today is ₹85245.0 for 10 grams, an increase from ₹84515.0 yesterday and ₹82895.0 last week.
Top 5 South Cities for Silver Rates in India
Silver Prices in Chennai
Chennai’s silver price today is ₹108600.0 per kg, down from ₹109600.0 yesterday and ₹106600.0 last week.
Silver Prices in Bangalore
In Bangalore, silver prices are at ₹100500.0 per kg, a decrease from ₹101500.0 yesterday and an increase from ₹98500.0 last week.
Silver Prices in Hyderabad
Hyderabad reports silver prices at ₹109200.0 per kg, down from ₹110200.0 yesterday and up from ₹107200.0 last week.
Silver Prices in Visakhapatnam
Visakhapatnam’s silver price is ₹107600.0 per kg, down from ₹108600.0 yesterday and up from ₹105600.0 last week.
Silver Prices in Vijayawada
In Vijayawada, silver prices are at ₹110000.0 per kg, down from ₹111000.0 yesterday and up from ₹108000.0 last week.
Factors Affecting Gold Rates and Silver Prices
The prices of gold and silver are influenced by a variety of factors, both domestic and international. Here are some key influences:
Global Demand: The overall demand for gold and silver worldwide significantly impacts price changes. Increased demand can lead to higher prices, while decreased demand can result in lower prices.
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 often 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. Conversely, lower interest rates can boost demand for these precious metals.
Government Regulations: Policies and regulations related to the gold and silver trade can also impact prices. Changes in import duties or taxes can lead to price fluctuations.
World Events: Economic conditions, geopolitical events, and other global factors can influence the demand for and price of precious metals. For instance, political instability often drives investors toward 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.
Conclusion
As of February 5, 2025, the gold and silver markets in India are experiencing notable fluctuations. With gold prices on the rise and silver prices showing a decline, investors and consumers must stay informed about market trends and factors influencing these precious metals. For those looking to check the gold prices in major northern cities, further information can be found here.
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