Gold prices in India have surged to an all-time high on February 10, 2025. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold increased by ₹669, reaching ₹85,368. This surpasses the previous highest price of ₹84,699 per 10 grams.
Silver Prices Show a Decline
Unlike gold, silver prices have dropped. The price of one kilogram of silver has fallen by ₹451, settling at ₹94,940 per kg. On the previous day, silver was priced at ₹95,391 per kg. Silver had previously hit its all-time high on October 23, 2024, when it reached ₹99,151 per kg.
Gold Prices Have Increased by ₹9,206 Since January 1
Since the beginning of 2025, gold prices have seen a significant rise. The cost of 10 grams of 24-carat gold has surged from ₹76,162 on January 1 to ₹85,368, marking an increase of ₹9,206. Similarly, silver prices have also seen an upward trend, rising from ₹86,017 per kg to ₹94,940 per kg, an increase of ₹8,923.
Gold Prices Across Major Cities
Gold prices vary across different cities in India. Below are the current prices in four major metropolitan cities and Bhopal:
- Delhi: ₹85,400 per 10 grams
- Mumbai: ₹85,350 per 10 grams
- Kolkata: ₹85,370 per 10 grams
- Chennai: ₹85,600 per 10 grams
- Bhopal: ₹85,450 per 10 grams
Reasons Behind the Surge in Gold Prices
Several factors have contributed to the rise in gold prices:
- Global Economic Uncertainty: Ongoing geopolitical tensions and global economic instability have led to increased demand for gold as a safe-haven asset.
- Interest Rate Cuts: The United States and the United Kingdom have recently reduced interest rates, making gold a more attractive investment option.
- Inflation Concerns: Rising inflation has pushed investors towards gold as a hedge against economic downturns.
- Increase in Gold ETF Investments: The demand for Gold Exchange-Traded Funds (ETFs) has surged, contributing to the rise in gold prices.
Gold and Silver Returns in 2024
Gold and silver provided impressive returns in 2024. The price of gold increased by 20.22% throughout the year. On January 1, 2024, gold was priced at ₹63,352 per 10 grams, which surged to ₹76,162 by December 31, 2024.
Silver also saw a significant rise, with its price increasing by 17.19%. On January 1, 2024, one kilogram of silver was priced at ₹73,395, which climbed to ₹86,017 by the end of the year.
Gold Prices Expected to Reach ₹90,000 in 2025
Ajay Kedia, Director of Kedia Advisory, predicts that gold prices may continue to rise. He suggests that after a strong rally, a correction in prices was expected and has already occurred. The recent interest rate cuts in the UK, along with increased geopolitical tensions, have strengthened gold prices. Additionally, the growing investment in Gold ETFs is further boosting demand. As a result, gold prices may reach ₹90,000 per 10 grams in 2025.
Importance of Buying Certified Gold
When purchasing gold, it is crucial to buy only Bureau of Indian Standards (BIS) certified hallmarked gold. Each certified gold item carries a six-digit hallmark code, known as the Hallmark Unique Identification (HUID) number. This alphanumeric code, such as “AZ4524,” ensures the authenticity and purity of gold. By verifying the hallmark, buyers can confirm the gold’s carat value and avoid purchasing substandard products.
Conclusion
The soaring gold prices reflect the impact of global economic factors and increasing investor interest. With gold projected to reach ₹90,000 per 10 grams, the metal remains a preferred choice for investors looking for stability. Meanwhile, silver prices have shown fluctuations, yet remain a valuable asset for investment. Whether buying gold for personal use or investment purposes, consumers should always verify the purity through BIS certification to ensure the best value for their purchase.
