For the last few weeks, there have been fluctuations in the prices of gold and silver. The prices of 24 carat gold have sometimes seen a rise and sometimes a fall. Gold prices increased by about 4% last week. Experts say that due to global factors, fluctuations in gold prices may be seen this week also. Currently, the price of 24 carat gold is around ₹1,25,070/10 gram, while the price of silver is around ₹1,68,900/kg. On Monday, November 17, gold prices are expected to remain around this level based on fluctuations in domestic and global markets.
What are the prices in major cities?
24 carat gold price in Delhi is ₹1,25,220/10 gram. Gold price in Mumbai is ₹1,25,070, Chennai ₹1,25,990, Kolkata ₹1,25,070, Jaipur ₹1,25,220, Lucknow ₹1,25,220 and Patna ₹1,25,120. Silver is trading at around ₹1,68,900 per kg in Delhi. In Mumbai and Kolkata also it is trading at around ₹1,68,900 per kg. It is trading at ₹1,74,990 per kg in Chennai. Silver prices in Jaipur, Lucknow and Patna are also said to be around ₹1,68,900 per kg.
How did gold perform last week?
An increase in the prices of gold and silver has been seen this week. Gold prices have increased by more than ₹4,600 per 10 grams, and silver prices have increased by almost ₹11,000 per kg. According to India Bullion Jewelers Association (IBJA), the price of 24 carat gold has increased from ₹1,20,100 per 10 grams to ₹1,24,794 per 10 grams on the same day last week. This marks an increase of ₹4,694 per 10 grams in gold prices compared to the previous week. The price of 22 carat gold has increased from ₹ 1,10,012 earlier to ₹ 1,14,311 per 10 grams. The price of 18 carat gold has increased to ₹93,596 per 10 grams from earlier ₹90,075 per 10 grams.
Along with gold, silver also shines
Along with gold, the prices of silver are also increasing. Silver prices have increased by ₹11,092 in a week to ₹1,59,367 per kg, from ₹1,48,275 per kg last week. Gold and silver prices were continuously falling since Diwali, with gold prices reaching ₹1,18,000 per 10 grams and silver prices reaching ₹1.45 lakh per kg. However, these are improving now.
Experts’ opinion on gold and silver
This week, a rise in the prices of gold and silver has been seen at the international level also. Gold and silver prices stood at ₹4,094 per ounce and ₹50.6 per ounce, respectively, compared to ₹4,000 per ounce and ₹48 per ounce, respectively, a week ago. It is believed that this increase in gold prices is due to the possibility of the Federal Reserve cutting interest rates in December and the continued weakness of the dollar. Market experts said that last week a rise of about 4 percent was seen in gold prices and due to global factors, gold may see fluctuations and it may remain in the range of Rs 1,24,000 to Rs 1,27,500 per 10 grams.