The festival season is around the corner, and once again the prices of gold and silver are showing an upward trend. For the past few days, gold rates had slightly declined, but with increasing investor interest and festive demand, the market has started gaining momentum. Buyers and investors are keenly tracking the Gold Price Today before making their move.
Latest Gold and Silver Rates in India
According to the India Bullion and Jewellers Association (IBJA), by Monday evening, 24-carat gold had dropped to ₹1,09,511 per 10 grams. Similarly, silver prices fell to ₹1,27,791 per kilogram. However, today’s rates show a sharp recovery as festive buying continues to push the market upward.
- Gold 24 Carat – ₹1,09,511 per 10 grams
- Gold 23 Carat – ₹1,09,072 per 10 grams
- Gold 22 Carat – ₹1,00,312 per 10 grams
- Gold 18 Carat – ₹82,133 per 10 grams
- Gold 14 Carat – ₹64,064 per 10 grams
- Silver 999 – ₹1,27,791 per kilogram
On Tuesday, 24-carat gold was recorded at ₹1,10,630 per 10 grams, compared to ₹1,09,750 per 10 grams on the previous day. On the Multi-Commodity Exchange (MCX), October futures fell by ₹148 or 0.14% to ₹1,09,222 per 10 grams, while December contracts dropped ₹111 or 0.10% to ₹1,10,323 per 10 grams.
Impact on Buyers and Investors
The rise in gold prices has created excitement among investors, as gold continues to be considered a safe investment option during uncertain times. On the other hand, common buyers who plan to purchase jewelry are facing extra pressure on their budgets. With the festive season and wedding months approaching, demand is expected to remain strong, which may keep prices elevated.
Market analysts suggest that fluctuations in international gold prices, global economic factors, and domestic demand patterns are all influencing the current trend.
Always Check for Hallmark Before Buying
If you are planning to buy gold jewelry, do not forget to check for the BIS Hallmark, which is the government’s guarantee of purity. In India, the Bureau of Indian Standards (BIS) certifies gold with a hallmark stamp. Each carat has a different hallmark sign, so customers should carefully verify the mark before making a purchase.
Buying non-hallmarked gold increases the risk of adulteration. To safeguard your investment, always ensure that the gold is BIS-certified and request a proper bill from the jeweler.
Why Do Gold Prices Fluctuate?
Gold and silver prices depend on several global and domestic factors. These include:
- International market trends
- Dollar strength or weakness
- Inflation and economic uncertainty
- Local festive and wedding season demand
Whenever there is a global economic slowdown, investors shift their money into gold investment, which drives up prices. In India, cultural demand during festivals and marriages plays a major role in price fluctuations.
Is This the Right Time to Buy Gold?
For long-term investors, gold has always been a reliable asset. Experts suggest buying during dips to maximize returns. If you are purchasing jewelry, ensure it is Hallmark Gold and keep the receipt for authenticity. For those planning investments, tracking daily prices and global market movements can help make smarter decisions.
Disclaimer: This article is based on information from the India Bullion and Jewellers Association (IBJA) and other reliable sources. The rates mentioned here may vary across different cities and jewelry shops.
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