Gold Price Today: Gold's Prominence in India and Rising Demand
Gold holds immense importance in Indian culture. Weddings and auspicious ceremonies lead to a surge in demand for gold. Regardless of whether prices rise or fall, gold shops are usually crowded with women. The growing demand from regular buyers is contributing to an increase in gold prices.
Currently, gold prices in the country are on a steady rise. With the upcoming wedding season, prices are expected to climb even higher. Bullion market experts predict that the price of 10 grams of gold may reach ₹1,00,000 in the near future. In recent days, gold prices have been fluctuating significantly—falling on some days and rising on others. On February 19, gold prices saw a slight increase. Although the recent hike was small, prices have been rising steadily over time.
Current Gold Prices as of February 19 (6 AM):
- 22 Karat (10 grams): ₹79,710
- 24 Karat (10 grams): ₹86,960
Prices are subject to change during the day—there may be an increase, decrease, or they may remain stable.
Gold Prices in Major Cities:
- Chennai: 22K - ₹79,710, 24K - ₹86,960
- Mumbai: 22K - ₹79,710, 24K - ₹86,960
- Delhi: 22K - ₹79,860, 24K - ₹87,110
- Hyderabad: 22K - ₹79,710, 24K - ₹86,960
- Vijayawada: 22K - ₹79,710, 24K - ₹86,960
- Bengaluru: 22K - ₹79,710, 24K - ₹86,960
- Kerala: 22K - ₹79,710, 24K - ₹86,960
- Kolkata: 22K - ₹79,710, 24K - ₹86,960
Silver Price:
The current price of 1 kg of silver is ₹1,00,400.
Key Reasons Behind Price Increases:
- International Market Volatility: Global market instability, especially U.S. monetary policies, is influencing gold prices.
- Safe Investment Demand: More people are buying gold as a safe investment option, driving prices higher.
- Interest Rate Reductions: If global market uncertainties persist and interest rates are reduced, gold and silver prices may rise further.
- Wedding and Festival Season: High demand during wedding and festival seasons could also keep prices elevated.
Gold prices vary across different cities in India, as a uniform gold rate has not yet been established nationwide. Regional variations in taxes, local charges, and making costs also affect gold prices. Southern cities like Chennai typically experience quicker price fluctuations.
