New Delhi, February 1, 2025: Gold and silver prices in India witnessed a significant surge on Saturday, marking an upward trend in the precious metals market. The price of 24-carat gold stands at ₹84,513 per 10 grams, reflecting an increase of ₹1,310 from the previous trading session. Meanwhile, 22-carat gold is priced at ₹7,748.3 per gram, rising by ₹1,200.
Silver prices have also shown a substantial hike, reaching ₹1,02,700 per kg, an increase of ₹1,000 per kg compared to yesterday’s rates. This surge in gold and silver rates comes amidst fluctuating global market conditions, inflation concerns, and changing investor sentiments.
Let’s take a closer look at today’s gold and silver rates in major cities across North India.
Gold Prices in Top North Indian Cities – February 1, 2025
| City | Today’s Gold Price (10 grams, 24K) | Yesterday’s Gold Price (31-01-2025) | Last Week’s Gold Price (26-01-2025) |
| Delhi | ₹84,513.0 | ₹83,033.0 | ₹82,593.0 |
| Jaipur | ₹84,506.0 | ₹83,026.0 | ₹82,586.0 |
| Lucknow | ₹84,529.0 | ₹83,049.0 | ₹82,609.0 |
| Chandigarh | ₹84,522.0 | ₹83,042.0 | ₹82,602.0 |
| Amritsar | ₹84,540.0 | ₹83,060.0 | ₹82,620.0 |
Gold prices have been fluctuating due to various global and domestic factors, including market volatility, economic policies, and changes in demand from jewelry markets. The steady increase in prices reflects cautious investor behavior amid economic uncertainties.
| City | Today’s Silver Rate (Per Kg) | Yesterday’s Silver Rate (31-01-2025) | Last Week’s Silver Rate (26-01-2025) |
| Delhi | ₹1,02,700.0 | ₹99,500.0 | ₹1,00,600.0 |
| Jaipur | ₹1,03,100.0 | ₹99,900.0 | ₹1,01,000.0 |
| Lucknow | ₹1,03,600.0 | ₹1,00,400.0 | ₹1,01,500.0 |
| Chandigarh | ₹1,02,100.0 | ₹98,900.0 | ₹1,00,000.0 |
| Patna | ₹1,02,800.0 | ₹99,600.0 | ₹1,00,700.0 |
Silver prices have also experienced a sharp increase, mirroring the trends in the gold market. The rise in silver rates is driven by increased industrial demand, global inflation concerns, and fluctuations in the stock and commodity markets.
Why Are Gold and Silver Prices Increasing?
The upward trend in gold and silver prices is attributed to several factors:
1. Global Economic Uncertainty
Gold is often considered a safe-haven asset during times of economic turbulence. With inflation concerns and global trade tensions rising, investors are turning to gold to hedge against financial instability.
2. Interest Rate Policies by Central Banks
The monetary policies of central banks, including the US Federal Reserve and the Reserve Bank of India (RBI), influence gold prices. A reduction in interest rates makes non-interest-bearing assets like gold more attractive to investors.
3. Demand and Supply Dynamics
The demand for gold in India, especially during wedding and festive seasons, significantly impacts its price. A surge in purchases increases prices, while lower demand results in price corrections.
4. Currency Fluctuations
The strength of the Indian Rupee against the US Dollar plays a crucial role in determining gold and silver prices. A weaker rupee makes gold imports costlier, leading to higher domestic prices.
5. Geopolitical Tensions and Stock Market Movements
Geopolitical uncertainties, such as international conflicts and trade wars, also push investors toward gold as a safer investment. Additionally, stock market fluctuations can drive demand for precious metals.
Future Outlook: Will Gold and Silver Prices Continue to Rise?
Financial experts predict that gold and silver prices may continue their bullish run in the coming months, driven by global economic factors and investor sentiment. However, market fluctuations can lead to short-term corrections.
- If inflation continues to rise, gold prices may move beyond ₹85,000 per 10 grams in the near future.
- Silver prices could see further hikes, possibly crossing ₹1,05,000 per kg in the coming weeks.
- The upcoming Union Budget 2025 may introduce policy changes affecting the gold and silver market, influencing price trends.
Should You Buy Gold and Silver Now?
For those considering gold and silver investments, experts suggest a balanced approach:
- Long-Term Investors: Investing in gold as a hedge against inflation is a good strategy. Systematic investment in gold ETFs, sovereign gold bonds, or physical gold can provide stability.
- Short-Term Traders: Given the recent price surge, traders should closely monitor global market trends and RBI policies before making high-risk investments.
- Jewelry Buyers: With prices at a high point, customers may want to time their purchases strategically, keeping an eye on potential price corrections.
Conclusion
Gold and silver prices in India have witnessed a steady rise, with global economic trends, inflationary pressures, and geopolitical concerns playing a pivotal role. As investors and consumers assess the market, experts advise keeping an eye on international developments and policy decisions that could impact future price movements.
For those looking to invest in gold or silver, staying updated with daily price changes and market trends is crucial to making informed financial decisions.
Stay tuned for more updates on gold and silver prices, investment strategies, and market trends.