Gold and silver prices in India have continued their upward momentum for the second consecutive day, adding pressure on jewellery buyers during the ongoing wedding season. With demand for safe-haven assets remaining strong, both precious metals have seen steady buying interest, especially after investors used the recent price dip as an opportunity to accumulate.
On Tuesday, gold prices edged higher in the domestic market, while silver also extended its gains after remaining stable for a few sessions. The rise in bullion prices has made jewellery purchases slightly more expensive for consumers across key urban centres.
In the national capital, the price of 24-carat gold increased by ₹10 per 10 grams, while 22-carat gold also moved up by ₹10. Over the last two trading sessions, gold prices have witnessed a sharp recovery. In just two days, 24-carat gold has climbed by ₹1,320 per 10 grams, whereas 22-carat gold has risen by ₹1,210.
Market experts believe that persistent global uncertainty, expectations around interest-rate decisions, and inflation concerns are driving investors towards gold. The metal continues to hold its appeal as a store of value, particularly during volatile economic conditions.
Here is a snapshot of gold prices (per 10 grams) across leading cities, based on purity levels:
24-Carat Gold prices are hovering close to ₹1.58 lakh in most cities.
22-Carat Gold remains above ₹1.44 lakh.
18-Carat Gold, preferred for lightweight jewellery, continues to trade above ₹1.18 lakh in several markets.
Southern cities are witnessing slightly higher prices due to local taxes and making-charge variations, while prices across northern and western markets remain largely aligned.
Silver has also mirrored gold’s upward trend. After remaining flat for a brief period, silver prices have jumped sharply over the last two days. In Delhi, silver has become costlier by ₹15,100 per kilogram during this period.
On February 10, silver was trading at around ₹3,01,100 per kilogram, registering a modest daily increase of ₹100. Similar price levels were observed in other major metropolitan markets as well, indicating uniform demand across regions.
According to market analysts, investors are closely monitoring key global economic indicators. Upcoming data releases related to GDP growth, inflation, PMI numbers, and employment figures from major economies are expected to influence bullion prices.
In addition, signals from the US Federal Reserve regarding future interest-rate cuts could play a crucial role. Lower interest rates generally support gold and silver prices, as they reduce the opportunity cost of holding non-yielding assets.
Commodity experts note that gold appears to be in a consolidation-cum-recovery phase, suggesting that its broader trend remains positive. Silver, however, may experience higher volatility in the near term, with chances of short-term corrections.
For jewellery buyers, the recent price rise means slightly higher expenses during the wedding season. However, long-term investors may still view gold as a reliable hedge against inflation and currency fluctuations.
Experts advise keeping an eye on global cues and consulting certified financial advisors before making large investment decisions, especially given the ongoing volatility in precious-metal markets.
