As of Sunday, February 9, 2025, gold rates in India have experienced a significant uptick, reflecting both global market trends and domestic factors. Investors and consumers alike are closely monitoring these developments, especially with the wedding season in full swing, traditionally a period of heightened gold demand in the country.
Current Gold Rates in Major Indian Cities
The following table provides a detailed breakdown of gold rates for both 22-carat and 24-carat gold across key Indian cities:
| City | 22-Carat Gold (₹/10 grams) | 24-Carat Gold (₹/10 grams) |
| Delhi | ₹79,623 | ₹86,843 |
| Mumbai | ₹79,667 | ₹86,697 |
| Chennai | ₹79,691 | ₹86,691 |
| Kolkata | ₹79,675 | ₹86,695 |
| Bangalore | ₹79,687 | ₹86,870 |
| Hyderabad | ₹79,629 | ₹86,729 |
| Pune | ₹79,298 | ₹86,843 |
| Ahmedabad | ₹79,579 | ₹86,843 |
| Jaipur | ₹79,611 | ₹86,843 |
| Lucknow | ₹79,606 | ₹86,843 |
Recent Trends and Analysis
Over the past week, gold prices have shown a notable increase. For instance, in Delhi, the price of 24-carat gold rose from ₹84,653 per 10 grams on February 3 to ₹86,843 on February 9, marking an increase of ₹2,190. Similarly, 22-carat gold in Delhi increased from ₹77,578 to ₹79,623 in the same period.
This upward trend is not isolated to Delhi. Cities like Mumbai, Chennai, and Kolkata have also reported similar increases in gold prices, underscoring a nationwide surge.
Factors Influencing the Surge
Several factors contribute to the current rise in gold prices:
- Global Economic Uncertainty: Ongoing geopolitical tensions and economic uncertainties have led investors worldwide to seek safe-haven assets, with gold being a preferred choice. This increased demand has driven up prices globally.
- Currency Fluctuations: The depreciation of the Indian Rupee against the US Dollar makes gold imports more expensive, subsequently increasing domestic prices.
- Domestic Demand: The ongoing wedding season in India traditionally boosts gold purchases, adding to the demand and pushing prices higher.
- Supply Constraints: Reports indicate that major jewelers, such as Titan Company, anticipate higher costs to lease gold due to tightening supplies from bullion banks. This scenario arises as these banks redirect gold to markets like the U.S., where futures are trading at a premium over spot prices. Ajoy Chawla, CEO of Titan’s Jewellery division, noted, “Gold moved from London market to Comex because of anticipated tariffs. “There has been a sudden shortage of gold over the past week, causing fluctuations in gold metal loan interest rates.”
Silver Prices Also on the Rise
Alongside gold, silver prices have seen an uptick. In Delhi, the price of silver is currently ₹102,600 per kilogram, up by ₹100 from the previous day. This increase aligns with global trends where silver, like gold, is witnessing heightened demand.
Investment Insights
For investors, the current scenario presents both opportunities and challenges. The consistent rise in gold prices may offer profitable avenues for those looking to invest in precious metals. However, it’s crucial to stay informed about market dynamics and global economic indicators that could influence future price movements.
Conclusion
As of February 9, 2025, gold prices across India are on an upward trajectory, influenced by a combination of global economic factors, domestic demand, and supply constraints. Consumers and investors are advised to monitor these trends closely, especially during this period of heightened market activity.
