As of February 4, 2025, the latest available data indicates that gold and silver prices in India have experienced notable fluctuations in recent weeks.
Recent Trends in Gold Prices:
In January 2025, gold prices in major Indian cities showed an upward trend. For instance, on January 17, 2025, the price of 24-carat gold in Delhi rose to ₹80,803 per 10 grams, marking an increase of ₹550 from the previous day. Similarly, in Chennai, the price was ₹80,651 per 10 grams on the same date. This upward movement was observed across other major cities as well.
However, by January 20, 2025, there was a slight decline in gold prices. In Delhi, the price of 24-carat gold decreased by ₹10, settling at ₹81,273 per 10 grams. Chennai also saw a marginal decrease, with prices at ₹81,121 per 10 grams.
Recent Trends in Silver Prices:
Silver prices have also experienced fluctuations during the same period. On January 17, 2025, silver prices in Delhi reached ₹98,700 per kilogram, reflecting an increase of ₹2,000 from the previous day. Chennai reported even higher prices, with silver priced at ₹105,800 per kilogram.
By January 20, 2025, silver prices saw a slight decline. In Delhi, the price decreased by ₹100, bringing it to ₹99,500 per kilogram. Chennai's silver prices also dipped to ₹106,600 per kilogram.
Factors Influencing Price Movements:
The fluctuations in gold and silver prices can be attributed to several factors:
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Global Economic Conditions: Economic uncertainties and geopolitical tensions often drive investors toward precious metals as safe-haven assets, influencing demand and prices.
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Central Bank Policies: Purchases of gold by central banks to safeguard reserves against inflation and economic instability have been significant. This trend is expected to continue, potentially impacting gold prices.
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Domestic Demand: In India, cultural and traditional factors, especially during weddings and festivals, play a crucial role in driving the demand for gold and silver.
Investors and consumers are advised to stay updated with the latest market trends and consult financial advisors before making investment decisions in precious metals.
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