National/ Business Desk
24 January
Ludhiana
Journalist Sandeep Dhand
Amid strong global trends, the price of gold in the national capital surged by ₹170 to a record high of ₹82,900 per 10 grams, as per the All India Sarafa Association. Yesterday, the price stood at ₹82,730 per 10 grams.
In just a year, gold prices have risen significantly by ₹20,180 or 32.17%. On February 23, 2024, the price was ₹62,720 per 10 grams. Over the past seven trading sessions, gold with 99.9% purity has gained ₹2,320. Similarly, gold with 99.5% purity has seen the same price hike.
However, silver prices have dropped during this period. The price of silver fell by ₹500 to ₹93,500 per kilogram today, compared to ₹94,000 per kilogram yesterday.
Bullion traders attribute the sharp rise in gold prices to strong global market trends and increased demand from jewelers and retailers. Gold is currently seen as a safe investment option amidst economic uncertainties, further fueling its demand.
Meanwhile, silver’s decline reflects weaker industrial demand, which typically influences its price movement. Investors are closely monitoring these fluctuations in precious metal markets.