Suryaa Business Desk: Gold prices have risen significantly across the country due to increased demand during the Diwali festival season. This follows a period where prices had previously declined due to international commodity market pressures and concerns regarding US Federal Reserve interest rates.
In the domestic bullion market, the price of 24-carat gold is currently trading at Rs 1,39,380 per 10 grams, while 22-carat gold is priced at Rs 1,27,760. These rates are consistent across Telangana and Andhra Pradesh, including the markets in Hyderabad, Vijayawada, and Visakhapatnam. In Delhi, 24-carat gold is priced at Rs 1,39,530, with 22-carat gold at Rs 1,27,910. Prices in Chennai and Bengaluru are steady at Rs 1,39,380 for 24-carat and Rs 1,27,760 for 22-carat gold.
In contrast, silver prices have seen a slight decrease. In Delhi, Hyderabad, and Chennai, the price of one kilogram of silver is currently Rs 1,99,900, falling below the two-lakh rupee mark.
Market experts attribute these fluctuations to international commodity market pressures, global economic conditions, and uncertainties regarding US Federal Reserve policies. While international factors previously led to a decline in precious metal prices, the current rise is driven by local festive demand. Financial experts advise consumers to monitor prices closely before making purchases during the festive period.