Gold Price Today: Gold prices have surged sharply this week, crossing the ₹1.25 lakh mark per 10 grams in India, while silver has climbed by more than ₹11,000 per kilogram. After three consecutive weeks of decline, the bullion market has witnessed a strong rebound driven by global economic uncertainty, rising geopolitical tensions, and a renewed interest from investors seeking safe-haven assets.
According to the India Bullion & Jewellers Association (IBJA), gold and silver prices have shown their strongest weekly gain in months, pushing overall yearly gains to record levels. With the keyword Gold Price Today trending globally, investors across India, the UK, and the US are closely monitoring the metal’s movement.
Gold Price Today: Gold Becomes ₹4,694 Costlier in a Week
On 7 November, the price of 24K gold in India stood at ₹1,20,100 per 10 grams. Over the week, gold gained ₹4,694, closing at ₹1,24,794 per 10 grams by 14 November.
This sharp weekly jump follows a period of correction where gold prices had fallen for three weeks in a row. The renewed climb indicates growing buyer interest and intensified demand during the wedding and festive season.
Earlier, on 17 October, gold touched ₹1,30,874 per 10 grams, marking its highest-ever price. Though current prices remain slightly lower than the all-time high, analysts believe the metal may retest or surpass previous records if current market conditions persist.
Silver Prices Rally: Gains ₹11,092 in a Week
The weekly rally was not limited to gold. Silver prices also surged significantly across major Indian cities.
- On 7 November, silver was priced at ₹1,48,275 per kilogram.
- By 14 November, it rose by ₹11,092, reaching ₹1,59,367 per kilogram.
Earlier, on 14 October, silver had soared to ₹1,78,100 per kilogram, its all-time high, before undergoing a correction phase. With renewed global demand and industrial consumption recovery, silver is again moving toward strength in the market.
Yearly Performance: Gold Up by ₹48,632; Silver Up by ₹73,350
The year 2024 has been exceptionally strong for both precious metals. As of now, the following increases have been recorded:
Gold Performance in 2024
- 31 December 2024 price: ₹76,162 per 10 grams
- Today’s gold price: ₹1,24,794 per 10 grams
- Total increase in 2024: ₹48,632 per 10 grams
This nearly 64% rise in gold prices demonstrates the metal’s strong performance amid global inflation, currency fluctuations, and escalating geopolitical events.
Silver Performance in 2024
- 31 December 2024 price: ₹86,017 per kilogram
- Today’s silver price: ₹1,59,367 per kilogram
- Total increase in 2024: ₹73,350 per kilogram
Silver’s growth has been even stronger percentage-wise, supported by its dual demand—industrial and investment-based.
Why Gold Price Today Differs Across Indian Cities
While international prices influence gold rates universally, domestic prices differ from city to city. Here are the top four reasons responsible for the variation:
1. Transportation Cost
Gold is a physical commodity, and transporting it from ports or refineries to different parts of the country incurs costs.
Expenses include:
- Airfreight charges
- Fuel and logistics
- Security fees
- Transportation staff charges
Cities closer to ports like Mumbai and Chennai generally have lower transportation costs compared to inland cities.
2. Regional Demand and Buying Volume
Gold demand varies significantly across India.
For example:
- South India accounts for nearly 40% of total gold consumption.
- Heavy bulk buying by jewellers in these regions generally results in lower gold prices.
- In smaller Tier-2 and Tier-3 cities, lower volumes often lead to comparatively higher prices.
3. Local Jewellery Associations
Many states have their own jewellery associations that influence daily gold rates.
Example:
- In Tamil Nadu, the rate is largely determined by the Jewellers and Diamond Traders Association.
- Similar local associations across India set retail gold prices based on regional supply-demand dynamics.
4. Purchase Cost and Stock Value of Jewellers
This is one of the biggest reasons behind city-level price variations.
Jewellers who purchased gold stock at a lower price may offer slightly reduced rates.
Those who bought stock when prices were high need to sell at higher rates to avoid losses.
This daily adjustment contributes to differences in Gold Price Today across various markets.
Important Tips to Follow When Buying Gold
Buying gold is a major financial decision. These two precautions are essential:
1. Always Buy Certified Gold (BIS Hallmark)
To ensure purity and authenticity, gold must be hallmarked by the Bureau of Indian Standards (BIS).
A BIS hallmarked piece contains:
- BIS logo
- Purity grade (e.g., 24K, 22K, 18K)
- A unique alphanumeric code like AZ4524
- The jeweller’s identification mark
Hallmarking guarantees that the gold’s karat and weight match the seller’s claim.
2. Cross-check Prices Before Buying
Before making a purchase:
- Compare the day’s official gold rates on sources like IBJA.
- Verify purity levels (24K vs. 22K vs. 18K).
- Check making charges separately, as these vary from one jeweller to another.
Since Gold Price Today changes daily, comparing rates ensures transparency and prevents overspending.
Global Factors Influencing Gold Price Today
To make the article globally relevant for US and UK audiences, here are the major international elements driving today’s gold rates:
1. US Dollar Strength
Gold has an inverse relationship with the US dollar:
- When the dollar weakens, gold prices rise.
- Recent fluctuations in the US Dollar Index (DXY) have contributed to rising gold prices worldwide.
2. Federal Reserve Interest Rate Announcements
If the US Fed hints at rate cuts:
- Investors move away from bonds.
- Safe-haven demand for gold increases, lifting global prices.
3. Geopolitical Tensions
Events such as:
- Middle East conflicts
- Global trade disputes
- Political instability
…push investors toward gold, boosting demand and price.
4. Global Inflation
High inflation weakens currencies, making gold a preferred hedge.
This has been a key factor behind the surge in Gold Price Today worldwide.
Also read: Sensex, Nifty Slip Amid Weak Global Market Cues as Fed Signals Final Rate Cut of 2025
Will Gold Prices Continue Rising? Market Outlook
Analysts suggest that global uncertainty, high inflation, and strong safe-haven demand could keep gold elevated. Upcoming central bank decisions, US inflation data, and global geopolitical events will play a major role in determining future trends.
India’s wedding season demand may also provide additional short-term support.
Also read: Ahmedabad Gold Market Shines on Labh Pancham: Traders Hope for a Profitable Wedding Season
Conclusion
The Gold Price Today shows a strong upward movement with gold crossing ₹1.25 lakh and silver gaining more than ₹11,000 per kilogram in just a week. With yearly gains of ₹48,632 in gold and ₹73,350 in silver, precious metals continue to strengthen as global economic conditions shift investors toward safer assets.
Whether you are an investor or jewellery buyer, monitoring daily price movements, checking purity, and understanding market factors can help you make informed decisions.
