Precious Metals Market Trends on February 10, 2025
Gold and Silver Prices experienced a slight decline in India on Monday. The cost of 24-carat gold is currently priced at ₹8,683.3 per gram, marking a decrease of ₹10. Similarly, the rate of 22-carat gold stands at ₹7,961.3 per gram, reflecting the same reduction. Over the past week, 24-carat gold prices have fallen by 2.84%, while a more significant decline of 7.9% has been recorded over the past month.
Silver prices have also registered a minor drop, with the metal now priced at ₹1,02,500 per kilogram—₹100 less than the previous rate. The fluctuations in precious metal prices continue to be influenced by global and domestic market conditions.
Gold and Silver Prices in Key Southern Cities
Gold rates in major southern Indian cities exhibit slight variations. In Chennai, the price of 10 grams of 24-carat gold stands at ₹86,681, an increase from last week’s rate of ₹84,061. Similarly, in Bangalore, gold is priced at ₹86,675 per 10 grams, reflecting an upward trend from ₹84,055 recorded a week ago. Hyderabad, Visakhapatnam, and Vijayawada report gold prices at ₹86,689, ₹86,697, and ₹86,695 per 10 grams, respectively, all showing a steady rise compared to last week’s rates.
For silver, Chennai leads with a price of ₹1,09,600 per kilogram, while Hyderabad follows at ₹1,10,200 per kilogram. The rates in Bangalore, Visakhapatnam, and Vijayawada are ₹1,01,500, ₹1,08,600, and ₹1,11,000 per kilogram, respectively, indicating stable silver pricing across these regions.
Factors Impacting Gold and Silver Rates
Several key factors contribute to fluctuations in gold and silver prices. Global demand remains a significant determinant, with market trends shaping investment interest in precious metals. Currency exchange rates, particularly fluctuations in the US dollar, influence pricing as well. Interest rates also play a role, as higher rates can diminish gold and silver’s appeal due to the lack of interest income.
Government policies and trade regulations further affect market prices, with geopolitical and economic developments adding additional volatility. Jewelers and market experts closely monitor these factors to anticipate future price movements. The precious metals market continues to be shaped by international economic conditions, making it crucial for investors and buyers to stay updated on the latest trends.
