New Delhi: The wedding season is ongoing in the country, yet instead of an increase in gold demand, a decline has been observed. The primary reason behind this is the continuous rise in gold prices, causing customers to turn away from purchasing gold.
Gold prices have increased again this week. On February 14, the price of 24-carat gold per 10 grams was recorded at Rs86,092. Over the past year, gold prices have surged by Rs 9,930. Meanwhile, silver prices have decreased by Rs806 per kg. Since January, gold prices have risen by Rs11,130, reaching Rs86,092 per 10 grams from the earlier ₹85,998. This week alone, gold prices increased by Rs94, according to the India Bullion and Jewellers Association (IBJA).
On the other hand, silver prices have shown a decline. The price of silver per kg has decreased by Rs806, currently standing at Rs97,147. Last Saturday, silver was priced at Rs97,953.
Current Gold Prices Across Major Cities:
Delhi: 22-carat – Rs80,600, 24-carat – Rs87,290
Mumbai, Kolkata, Chennai: 22-carat – Rs80,450, 24-carat – Rs87,770
Reasons Behind the Gold Price Surge:
1. Geopolitical Tensions – After Trump became the U.S. President, global political tensions have increased, driving investors toward gold.
2. Rupee Depreciation – The weakening of the rupee against the U.S. dollar has contributed to rising gold prices.
3. Rising Inflation – The overall increase in commodity prices has also influenced gold rates.
4. Stock Market Fluctuations – Due to volatility in the stock market, more people are investing in gold, further increasing its price.
Experts predict that gold prices may touch ₹90,000 per 10 grams by the end of the year.