Gold Silver Rate: Gold and silver are not just ornaments in India, but are also considered the safest means of investment. Whether it is the wedding season or a festival, people definitely buy gold and silver. But before buying, it is very important to know their latest price. In such a situation, let us know in detail what are the prices of gold and silver are in major cities across the country today, 24 August, Saturday.
Today, silver touched the level of ₹ 1,20,000 per kg
Today, there has been a strong jump in the prices of silver. The average rate of silver across the country has reached ₹ 1,20,000 per kg. At the same time, its price has been seen even higher in some cities. Especially in Hyderabad, the price of silver was recorded at ₹ 1,30,100 per kg, which is much higher than in other cities.
The price of silver stood at ₹ 1,20,100 per kg in major cities like Delhi, Ayodhya, Chandigarh, and Jaipur. This price is big news for both investors and buyers, as it has seen a significant increase compared to the previous days.
Gold Rate Today 24 August: Gold prices rise
Talking about gold, today 24-carat gold was recorded at ₹ 1,01,770 per 10 grams in cities like Delhi, Ayodhya, Chandigarh, Jaipur, and Lucknow. At the same time, 22-carat gold was available in these cities at ₹ 93,300 per 10 grams.
The rate of gold in Hyderabad was slightly different. Here 24 24-carat gold is being sold at ₹ 1,01,620 per 10 grams and 22-carat gold at ₹ 93,150 per 10 grams. It is clear from this that there is a slight difference in prices in different parts of the country, but overall, the prices of gold seem to be moving towards a high.
Why do gold prices keep changing?
The fluctuation in gold prices does not depend only on the demand of the local market, but many global factors are also responsible for it. The buying and selling of central banks at the international level directly affects the prices of gold.
When the central bank of a country starts accumulating a large reserve of gold, its demand increases in the market. In such a situation, prices go up rapidly. On the contrary, if the demand decreases or economic uncertainty increases globally, then a fall in gold rates can also be seen.
What is the signal for investors?
Both gold and silver have long been reliable instruments for Indian investors. At present, the price of gold remains around the level of ₹ 1 lakh, while silver has crossed the mark of ₹ 1.20 lakh per kg.
It is clear from this that both these metals can see further rise in the coming days. Experts believe that if you want a safe investment for the long term, then investing in gold and silver can prove to be a good option. However, before buying, do check the rate with local jewelers, as there is a difference in prices in different cities.
Increased purchases expected in the festive season
The festive season is going to start in India in the coming months. There is a heavy purchase of gold and silver on occasions like Navratri, Dhanteras, and Diwali. In such a situation, it is expected that due to an increase in demand, there will be a further jump in prices.
Especially in rural India, where farmers buy gold and silver in large quantities after a good harvest, there is also a possibility of an increase in demand from there. This is the reason why investors are being advised to keep an eye on its prices from now on.
If we look at the prices of today, 24 August, the price of gold remains around ₹ 1,01,770 per 10 grams, and the price of silver remains around ₹ 1,20,000 per kg. This situation suggests that there may be more fluctuations in the market in the coming days.
If you are thinking of buying gold or silver, then this may be the right time. However, before taking a final decision, definitely check the prices from local jewelers.