Pure gold continued its rally on Wednesday, with 24-karat prices rising to Rs. 1,21,620 in Hyderabad, Rs. 1,21,230 in Delhi, and Rs. 1,21,440 in Mumbai. This is a sign of anxiety in the global market, a prediction of a weaker dollar, and an increased preference of investors for safe assets.
The international gold market is already considering and pricing in lower US interest rates and continuous geopolitical tensions, while domestic gold prices are unchanged. The wedding season demand has reinforced the already existing strong demand in the metros.
The 18-karat rates across the country showed mild differences but were still noticeable: Hyderabad quoted Rs. 9,273 per gram while Delhi was a little higher at Rs. 9,379. Mumbai quoted Rs. 9,274, Kolkata touched the upper range at Rs. 9,414, Chennai posted Rs. 9,238, and Bengaluru recorded Rs. 9,364 per gram.
The 22-carat segment, India’s most widely bought gold category, remained strongly up. Hyderabad quoted at Rs. 1,11,485 per 10 grams, Delhi quoted at Rs. 1,11,128, while Mumbai quoted at Rs. 1,11,320. Kolkata quoted at Rs. 1,11,173, Chennai continued at the top with a quote of Rs. 1,11,641, while Bengaluru quoted Rs. 1,11,403. Jewellers say planned buying for weddings and other family functions is sustaining demand despite price pressure.
The same trend continued in the 24-karat category. Among major cities, Hyderabad quoted one of the highest prices at Rs. 1,21,620 per 10 grams, followed by Delhi at Rs. 1,21,230 and Mumbai at Rs. 1,21,440.
Kolkata reported Rs. 1,21,280, Bengaluru marked Rs. 1,21,530, and Chennai topped all markets at Rs. 1,21,790. According to industry sources, the pickup has been observed for investment-grade gold as households look for safer parking avenues during times of economic uncertainty.
Silver also jumped in tandem with gold. Hyderabad and Chennai quoted Rs. 1,70,000 per kg. Delhi and Mumbai remained steady at Rs. 1,61,900. Kolkata recorded Rs. 1,65,000 and Bengaluru Rs. 1,62,000. Traders said the gain was due to stronger industrial demand backed by speculative buying.
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As long as global uncertainty persists and financial markets remain cautious towards policy signals, gold and silver are set to stay elevated. For buyers, this could mean recalibrating non-essential purchases.
For longer-term investors, this rally certainly reinforces the traditional lesson that times of uncertainty are those when precious metals tend to reclaim centre stage.