This pullback follows a two-day marathon rally, but the overall trend remains bullish. Year-to-date, gold rates have surged by Rs.37,882 since December 31, 2024, rising from Rs.76,162 to the current level. Silver has seen an even sharper increase of Rs.48,888, climbing from Rs.86,017 per kg. Experts attribute the momentum to global economic uncertainties, inflation hedges, and festive demand ahead of Navratri and Diwali.
Key Factors Influencing Gold and Silver Rates
- Global Cues: Rising US dollar strength and potential interest rate cuts by the RBI could impact future prices.
- Market Volatility: Recent highs include gold hitting Rs.1,13,000/10gms and silver surpassing Rs.1,34,000/kg earlier this week.
- Weekly Trends: Over the past week, gold rose Rs.3,030 while silver gained Rs.3,666, though the latest session shows a correction.
For those searching for gold rate in major Indian cities like Delhi, Mumbai, or Chennai, prices vary by carat: 22-carat gold hovers around Rs.104,500/10gms, and 18-carat at Rs.85,500/10gms. Silver rates remain consistent nationwide.
Smart Tips for Buying Gold in India
When purchasing, prioritize safety:
- Opt for Certified Gold: Always choose BIS-hallmarked items with a six-digit HUID (e.g., AZ4524) for authenticity. New rules ban sales without this.
- Verify Prices and Weight: Cross-check daily rates via IBJA or apps, and ensure accurate weighing. Remember, 24-carat is purest but soft; 22-carat suits jewelry.
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