Suryaa Business Desk: The bullion market has seen an unexpected rise in gold prices during the Diwali festival season. After a period of decline, prices began to climb on Monday, driven by high demand and international market influence. Market experts suggest that this demand may persist throughout the festival season, keeping prices at challenging levels.
As of November 5, gold prices in Hyderabad, Vijayawada, and Visakhapatnam are recorded at Rs 1,42,810 for 10 grams of 24-carat gold and Rs 1,30,910 for 22-carat gold. Similar pricing is observed in Chennai and Bengaluru, with 24-carat gold at Rs 1,42,810 and 22-carat gold at Rs 1,30,910. In Delhi, prices are slightly higher, with 24-carat gold at Rs 1,42,960 and 22-carat gold at Rs 1,31,060.
Silver prices have also increased. In Hyderabad, the price of one kilogram of silver has risen from the previous day's Rs 2,10,000 to Rs 2,10,100. This same rate of Rs 2,10,100 per kilogram is being recorded in Chennai, Bengaluru, and Delhi. Market analysts suggest that if this demand continues through the festival, metal prices may reach further record levels.