As of 5 Feb 2025, gold prices continue to outstand both domestic and global markets, due to a mix of Economic political, and money-driven dynamics. Let’s figure out factors influencing the rise of prices sky-high.
Gold Prices in India:
In the last weeks, Gold prices have seen an upsurge. As of this day, The gold price in the Nation’s capital has skyrocketed to 8635 per gram. this depicts the rise of the gold price of 500 Rs per gram from the last month.
The decline in Indian currency in front of the dollar has made a significant increase in Gold prices making it more expensive and driving its domestic price higher than before.
Though the demand for Gold jewelry and investment in gold by Indians remain Sturdy in this wedding season.
Global prices of Gold:
Gold prices have witnessed patterns of increment and decrement across the world. It is still at $1960 per ounce in the international market amidst the uncertainty of occurrences such as US political change and differences in Eastern Europe and Russia. As Described by the World Gold Council, Gold demand, globally, remained all-time high from the last three months of 2024 to the start of 2025. The total value of demand has crossed $100billion a five percent year-on-year increment to 1313 tonnes. This increase in demand is because gold has always been likely a safe option amidst inflation talks.
Factors concerning Gold prices include:
Inflation:
Inflation rates around the globe are skyrocketing. So this has kept gold trustworthy among investors.
Currency depreciation:
As the Rupee is getting weak front of the dollar (USD) is one of the major factors affecting heightened gold prices in India.
Geopolitical risks:
Increased tensions in Russia Middle East and Eastern Europe have increased risk aversion among investors. The Change in the US presidency has also impacted the prices.
Seasonal Gold demand:
As the wedding season is around the corner, seasonal buying results in a hike in gold prices.
Gold Prices in various states of India:
Delhi Gold prices: 85485/10 gm 24K
UP Gold prices: 85345/10gm 24K
Jaipur Gold prices: 85484/10gm 24K
Chandigarh Gold prices: 85375/10gm 24K
Chennai Gold Prices: 85750/10gm 24K