New Delhi. No one knows when gold and silver will become cheaper. The prices of gold and silver have gone up so much that both the precious metals are out of the reach of common people. Although people across the country bought gold and silver on Dhanteras, they had to pay more for it than last year. Last year i.e. in 2024, Dhanteras was on 29 October. On that date, the price of 10 grams of 24 carat gold was Rs 81400. Whereas, on Saturday, 10 grams of 24 carat gold became Rs 129584.
According to the website of India Bullion and Jewelers Association (IBJA), 10 grams of 22 carat gold is being sold in the bullion market for Rs 118699. Whereas, the price of 10 grams of 18 carat gold in the bullion market is Rs 97188. The price of 14 carat gold is Rs 75807 per 10 grams. New price is not decided on Sunday. In such a situation, the price of different carats of gold in the bullion market on Sunday is same as the above rate of Saturday. According to IBJA, the price of silver went up further on Saturday and it started selling at Rs 169230 per kg. Even today the same price of silver is prevailing in the bullion market.
Changes in the dollar index, the ongoing war between Russia and Ukraine, renewed tension between Hamas and Israel, tariffs imposed by US President Donald Trump and the trade war with China are the major reasons for the rise in gold and silver prices. Apart from this, due to fear of recession in Europe and America, investors are investing money in gold and silver. Central banks of many countries including China and India have purchased gold in large quantities in the past. This has also affected the price of gold. At the same time, due to the festival of Diwali and the upcoming wedding season, the prices of gold and silver remain high. Even in the futures trading of Multi Commodity Exchange (MCX), there is no decline in gold and silver prices till March next year.
