Gold and silver prices rose this week, with gold rising by Rs 820 to Rs 71,424 per 10 grams and silver becoming costlier by Rs 3,105.
This week, there has been a significant increase in the prices of gold and silver. According to the website of the India Bullion and Jewelers Association (IBJA), the price of gold on August 17 was Rs 70,604 per 10 grams, which has now increased to Rs 71,424 on August 24. Thus, the price of gold has increased by Rs 820 this week.
The price of silver has also increased in the same period. Last Saturday, the price of silver was Rs 81,510 per kg, which has now reached Rs 84,615 per kg. The price of silver has increased by Rs 3,105 this week. This year, silver touched its highest level of Rs 94,280 per kg on May 29, while gold made a record of Rs 74,222 on May 21.
Gold prices in metros and Bhopal
- Delhi: 10 grams 22-carat gold Rs 66,740, 10 grams 24-carat gold Rs 72,790.
- Mumbai: 10 grams 22-carat gold Rs 66,590, 10 grams 24-carat gold Rs 72,840.
- Kolkata: 10 grams 22-carat gold Rs 66,590, 10 grams 24-carat gold Rs 72,840.
- Chennai: 10 grams 22-carat gold Rs 66,590, 10 grams 24-carat gold Rs 72,840.
- Bhopal: 10 grams of 22-carat gold Rs 66,640, 10 grams of 24-carat gold Rs 72,690.
Significant increase in gold prices this year
According to IBJA, the price of gold has increased by Rs 8,072 so far this year. On January 1, gold was Rs 63,352 per 10 grams, which has now reached Rs 71,424. At the same time, the price of silver has also increased from Rs 73,395 to Rs 84,615 per kg.
Predictions and prospects
According to Anuj Gupta, Commodity and Currency Head of HDFC Securities, there is a possibility of further increase in the prices of gold and silver in the coming days. By the end of this year, the price of gold can reach Rs 78,000 per 10 grams, while silver can go up to Rs 1 lakh per kg.
Gold and silver investors can expect more gains in the future while the markets continue to remain volatile.
Disclaimer: This information is provided for informational purposes only. Always seek expert advice before investing. 1tak.com does not advise anyone to invest money because investment in the market is subject to risks.