New Delhi: The bullion market witnessed a notable rise in gold prices on the first day of the new year, marking a promising start for gold investors. However, silver prices took a slight hit, showcasing a contrasting trend between the two precious metals.
The price of 24-carat gold rose by an average of ₹372, pushing the rate for 10 grams to ₹76,534. Conversely, the price of silver fell by ₹117, with one kilogram trading at ₹85,900. These rates are as issued by the Indian Bullion Association (IBA) and exclude GST. Regional prices may vary by ₹1,000 to ₹2,000 due to local factors.
Breakdown of Gold Prices Across Carats
- 24 Carat Gold:
- Increase: ₹372
- Price: ₹76,534 per 10 grams
- 23 Carat Gold:
- Increase: ₹371
- Price: ₹76,228 per 10 grams
- 22 Carat Gold:
- Increase: ₹341
- Price: ₹70,105 per 10 grams
- 18 Carat Gold:
- Increase: ₹279
- Price: ₹57,401 per 10 grams
- 14 Carat Gold:
- Increase: ₹217
- Price: ₹44,772 per 10 grams
MCX Market Updates
On the Multi Commodity Exchange (MCX), both gold and silver rates experienced minor fluctuations:
- Gold: The price increased by ₹147, reaching ₹76,894 per 10 grams.
- Silver: The rate saw a modest rise of ₹147, with one kilogram priced at ₹87,380.
Silver Prices Dip Slightly
While gold prices soared, silver experienced a small dip in the bullion market. The rate dropped by ₹117, leaving silver at ₹85,900 per kilogram. Despite this, MCX rates for silver showed an upward trend.
Experts attribute the rise in gold prices to increased demand during the festive and wedding season. Gold’s appeal as a safe-haven asset remains strong amidst global economic uncertainties, driving its value upward.
Silver’s marginal dip, on the other hand, could be linked to reduced industrial demand. Analysts predict that silver might regain its momentum in the coming months as industrial activity picks up.
As 2025 begins, the bullion market reflects a mixed trend. While gold continues to shine, silver faces a momentary setback. For investors, the current market dynamics highlight the importance of keeping an eye on global and domestic factors influencing precious metal prices.
