Gold prices saw a modest increase today, with 24-carat gold priced at ₹8,783.3 per gram, reflecting a rise of ₹700. The price for 22-carat gold is ₹8,048.3 per gram, up by ₹600.
Price Fluctuation:
The price of 24-carat gold has risen by 0.5% over the past week but has seen a decrease of -6.21% over the past month.
Silver remains steady at ₹103,500 per kg, with no change from the previous day.
Gold Rates and Silver Prices in South Indian Cities:
Chennai: Gold – ₹87,681/10 grams (up from ₹86,651 on Feb 19) | Silver – ₹110,600/kg (unchanged)
Bangalore: Gold – ₹87,675/10 grams (up from ₹86,645 on Feb 19) | Silver – ₹102,500/kg (unchanged)
Hyderabad: Gold – ₹87,689/10 grams (up from ₹86,659 on Feb 19) | Silver – ₹111,200/kg (unchanged)
Visakhapatnam: Gold – ₹87,697/10 grams (up from ₹86,667 on Feb 19) | Silver – ₹109,600/kg (unchanged)
Vijayawada: Gold – ₹87,695/10 grams (up from ₹86,665 on Feb 19) | Silver – ₹112,000/kg (unchanged)
Factors Affecting Gold and Silver Prices:
Global Demand: Changes in demand for gold and silver on the international market influence prices.
Currency Fluctuations: The strength of the US dollar and other currencies affects the relative value of precious metals.
Interest Rates: Rising interest rates can reduce the attractiveness of gold and silver since they do not provide interest income.
Government Policies: Policies related to gold and silver trading can affect prices.
World Events: Geopolitical and economic events often lead to fluctuations in the value of gold and silver.
Jeweler Insights: Jewelers suggest monitoring market conditions closely, as fluctuations in currency, interest rates, and global demand can significantly impact the value of precious metals.
Related topics：
- What is the Value of 18K Gold?
- Why Does Gold Price Increase During War?
- What is the Best Price Being Paid for Gold Sovereigns?
