Aaj no sona no bhav: Gold represents so much more than a mere metal: it symbolizes wealth, security, and timeless worth. Recently, rising almost steeply, the price of gold in India has piqued the curiosity of investors and buyers alike. Within one week, one kilogram of 24-carat gold has become costlier by ₹1,960, while that of 22-carat gold increased by ₹1,800.
This uptick is not just local but a worldwide phenomenon, as gold has crossed the psychological barrier of $3,000 per ounce on the US market. Let us look more closely now at the latest gold prices in 10 prominent Indian cities and the factors leading to this increasing price spectrum.
What has Made Gold Obsessed with Increasing Prices?
Various global and domestic reasons have catalyzed the recent increase in gold prices. Heightened fear of a trade war, coupled with US interest rate cuts, has made gold a preferred safe-haven asset. Investors are resorting to gold as a hedge against economic uncertainty, with all such actions progressively pushing up demand and prices for gold. Then, we have the increase in silver prices back home by ₹3,900 in just one short week, to reinforce the attractiveness of all precious metals.
Gold Rates in 10 Major Indian Cities (as of March 16)
Delhi
- 24-carat gold: ₹89,820 per 10 grams
- 22-carat gold: ₹82,350 per 10 grams
Mumbai, Chennai, and Kolkata
- 24-carat gold: ₹89,670 per 10 grams
- 22-carat gold: ₹82,200 per 10 grams
Jaipur, Lucknow, and Chandigarh
- 24-carat gold: ₹89,820 per 10 grams
- 22-carat gold: ₹82,350 per 10 grams
Hyderabad
- 24-carat gold: ₹89,670 per 10 grams
- 22-carat gold: ₹82,200 per 10 grams
Ahmedabad and Bhopal
- 24-carat gold: ₹89,720 per 10 grams
- 22-carat gold: ₹82,250 per 10 grams
