Silver also saw a strong rally, gaining Rs.7,103 to trade at Rs.1,63,808 per kilogram, compared to Rs.1,56,705 per kg the previous day.
Gold had earlier touched an all-time high of Rs.1,30,874 per 10 grams on 17 October, while silver reached a record Rs.1,78,100 per kg on 14 October.
Gold and Silver Prices Have Soared Since the Start of 2025
Since 31 December 2024, gold prices have jumped Rs.49,962, rising from Rs.76,162 to Rs.1,26,124 per 10 grams (24 carat).
Silver has also become Rs.77,791 costlier during the same period — increasing from Rs.86,017 to Rs.1,63,808 per kilogram.
Why Gold Prices Differ Across Cities
1. Transportation Costs:
Gold, being a physical commodity, involves logistics costs like air transport, fuel, security, and manpower. Prices are slightly higher in interior regions due to these expenses.
2. Demand and Purchase Volume:
Demand varies regionally. South India accounts for around 40% of India’s total gold consumption, where bulk buying by jewelers often results in lower prices. Smaller cities may see higher rates.
3. Local Jewelry Associations:
Regional associations such as the Jewellers and Diamond Traders Association in Tamil Nadu play a key role in determining local gold rates.
4. Purchase Cost by Jewelers:
Jewelers who purchased gold earlier at lower rates can afford to sell it cheaper than those who bought at higher prices.
Key Tips for Buyers
Buy Only Certified Gold:
Always purchase gold with a Bureau of Indian Standards (BIS) hallmark, which certifies purity and caratage. The hallmark carries an alphanumeric code such as AZ4524.
Verify Prices:
Cross-check the daily gold rates and weight from reliable sources such as the IBJA website before buying. Rates differ for 24K, 22K, and 18K gold.
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