New Delhi: Calling all gold investors and enthusiasts! The yellow metal is gleaming brighter today, as prices witness a welcome increase on the morning of 21st February in the Indian bullion market. After a recent dip, both gold and silver have clawed their way back up, offering a sigh of relief to cautious buyers.
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Gold: Hold onto your hats, because the price of 24-carat gold has crossed the Rs 62,000 mark per 10 grams! That’s a significant jump compared to recent trends. Even 22-carat gold sees a healthy increase, currently priced around Rs 57,000 per 10 grams.
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Silver: Not to be outdone, silver also joins the upward climb, currently priced at Rs 70,950 per kilogram.
The price variations don’t stop there. Depending on your location, you might see slightly different figures:
- Delhi: 22-carat gold sits at Rs 57,490, while 24-carat shines at Rs 62,700 per 10 grams.
- Mumbai: Similar story here, with 22-carat gold priced at Rs 57,340 and 24-carat at Rs 62,550 per 10 grams.
- Chennai: Gold lovers in the south can expect to pay Rs 57,840 for 22-carat and Rs 63,100 for 24-carat per 10 grams.
- Ahmedabad: Looking for a deal? Ahmedabad offers 22-carat gold at Rs 57,390 and 24-carat at Rs 62,600 per 10 grams.
- Kolkata: 22-carat gold costs Rs 57,340 and 24-carat goes for Rs 62,550 per 10 grams in the City of Joy.
- Gurugram & Lucknow: Both cities echo the national trend, with 22-carat gold priced at Rs 57,490 and 24-carat at Rs 62,700 per 10 grams.
Remember, these prices are constantly fluctuating, so it’s always wise to check the latest figures before making any investment decisions.
Why the sudden rise?
Several factors can influence gold prices, including global market trends, economic uncertainties, and even local demand. It’s difficult to pinpoint one specific reason for the current increase, but it’s certainly a welcome change for those who were hesitant to invest during the recent dip.
So, is now the time to buy gold?
That’s a decision you need to make based on your individual financial goals and risk tolerance. However, with the current upward trend, some might see this as an opportunity to enter the market. Just remember, gold is a long-term investment, and patience is key.
