Over the course of the last week, the price of 24 carat shows a decrease of 0.87 percent while in the past month the 24 carat gold price slipped down 1.15 percent. Simultaneously, there was an increase in the silver price by ₹1200, making its rate close at ₹95700.0 per kilo.
The gold price was set to ₹78873 per 1Kg yesterday on 07-01-2025 and today`s market shows a consistent price of ₹78873 per 1Kg. On February 1st, these were set to near 79k, approximately Bihar yesterday on February 8th these prices shifted to ₹78873.
Yesterday on 07-01-2025 the price of silver was 945.0 per kg in New Delhi. Simultaneously on 02-01-2025 the rate remained at ₹935 for the same quantity therefore suggesting an increasing trend which provides insight to the unexplained silver price variations in recent months.
On 01-02-202, the Chennai silver price was set close to ₹100600/Kilo. These remained true over the span of a week until 07-01-2023 where the price jumped to ₹101600 making today’s ₹102800 per.kilo of gold silver reasonable.
Today’s gold price in Chennai stands to be approximately ₹78721 being a constant trend across the past week wherein every day the ratio shifted within 78721-78031 per 10 grams.
In Mumbai, the gold rate today remains at ₹78727.0/10 grams in line with the price on 07-01-2025 and was ₹78037.0/10 grams on the 02-01-2025.
Meanwhile, in Mumbai the silver rate today stands at ₹95000.0/Kg which is an improvement compared to the ₹93800.0/Kg seen on 07-01-2025 and ₹92800.0/Kg up from the last week.
Whereas in Kolkata, today's gold rate stands at ₹78725.0/10 grams being the same as the rate on 07-01-2025 and ₹78035.0/10 grams from last week.
The silver rate in Kolkata, in contrast, has risen considerably since last week to ₹96500.0/Kg from ₹95300.0/Kg at the start of the year as well as the ₹94300.0/Kg at the end of the year.
In regards with the report, the gold April 2025 MCX futures traded at ₹78447.0 per 10 gm still a slight margin lower by 0.082 at the time this report was published. For the silver March 2025 MCX this time 90820.0 per kg as opposed to 90539.0 per kg.
As mentioned there are many facets that determine gold as well as silver pricing, one of the determinant factors is the input from bigger jewelers. Apart from that factors like demand, currency fluctuations, interest rate and even government policies also steer the prices. Also external factors like the global economy and dollar status with other currencies fuels what gold goes for in India.
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