As of January 20, 2025, gold prices in India have stabilized at ₹82,000 per 10 grams in New Delhi, reflecting a flat trend in the market. This comes after a brief surge of ₹700 on January 19, 2025. Meanwhile, silver prices have decreased by ₹500, now standing at ₹93,000 per kilogram, as traders remain cautious amid weak demand. The gold of 99.5% purity is trading at ₹81,600 per 10 grams, indicating a slight variation in quality pricing. [c3fcaf6d]
The fluctuations in gold prices have been notable over the past few months. Earlier in January, gold prices rose by 3% due to safe-haven demand amid economic uncertainties, while silver saw a 7% increase in the same period. This uptick was largely attributed to speculation regarding potential Federal Reserve rate cuts, which have bolstered gold's appeal as an investment. [c3fcaf6d]
In the previous months, gold prices reached record highs of ₹82,400 and ₹82,000 on October 31, 2024, before experiencing a decline. On January 19, 2025, futures contracts for gold delivery slipped to ₹78,961, indicating ongoing volatility in the market. [c3fcaf6d]
As traders await the inaugural address of U.S. President-elect Donald Trump, market sentiment remains cautious. The dynamics of both gold and silver prices are influenced by global economic factors, including currency fluctuations and interest rate policies. [c3fcaf6d]
In the context of recent trends, gold prices had previously experienced fluctuations, with 22-karat gold priced at ₹78,950 per 10 grams on January 1, 2025, down from ₹79,350. Silver prices had also seen a decline to ₹89,700 per kilogram during that period. Analysts like Saumil Gandhi from HDFC Securities noted that despite current low market participation, gold prices may strengthen in the near future. [c4757dc1]
Overall, the market for gold and silver in India continues to be shaped by both local demand and international economic indicators, making it essential for investors to stay informed about ongoing developments. [c3fcaf6d]