Gold prices in India soared to a record high of ₹84,900 per 10 grams in the national capital on Friday, driven by strong domestic demand and rising international prices. The 99.9% pure gold price surged by ₹1,100 in a single session, marking the third straight day of gains. Since the start of the year, gold has appreciated by ₹5,510 or 7%, reflecting bullish sentiment in both domestic and global markets.
City-wise gold prices (as of January 31, 2025):
| City | 22K Gold (per gram) | 24K Gold (per gram) |
|---|---|---|
| Agra | ₹7,830 | ₹8,222 |
| Ahmedabad | ₹7,834 | ₹8,226 |
| Andhra Pradesh | ₹7,730 | ₹8,117 |
| Assam | ₹7,910 | ₹8,306 |
| Bangalore | ₹7,845 | ₹8,237 |
| Bhilai | ₹7,810 | ₹8,201 |
| Bhopal | ₹7,810 | ₹8,201 |
| Bhubaneswar | ₹7,910 | ₹8,306 |
| Bihar | ₹7,910 | ₹8,306 |
| Chandigarh | ₹7,830 | ₹8,222 |
Key reasons for the gold price surge:
- Global market influence: Spot gold prices breached $2,800 per ounce, boosting Indian gold rates.
- Safe-haven demand: Renewed tariff threats from the US against Mexico, Canada, and China have led to increased demand for gold.
- Monetary policies: Anticipated interest rate cuts by major central banks, including the European Central Bank, have supported the rally.
- Union Budget anticipation: Market participants are closely watching the 2025-26 Union Budget announcements, which could impact gold import duties and further influence prices.
Disclaimer: The information provided is for informational purposes only and should not be considered financial advice. Prices are subject to change. Always check with local jewelers before making purchases or investments.
