Gold Surges Rs 6,600, Silver Up Rs 40,000, Check City-Wise Rates Across Cities On Feb 4

Gold and Silver Price Today: Gold and silver prices witnessed a sharp jump on Wednesday in India as both bullions continue climbing upward following a hiatus. Gold prices gained almost Rs 6,600, while silver surged Rs 40,000 across the country, reflecting investors’ preference towards safe assets.

On COMEX, silver futures surged 5.48 per cent to trade at $87.86 per ounce, while gold also gained 3.35 per cent to cross $5,000 per ounce-mark once again.

In the spot market, 24K gold price was at Rs 1.60 1o grams, while 22K gold stood at Rs1,47,150 per 10 grams in Mumbai.

Silver was up Rs 40,000 to trade at Rs 3,20,000 per kg.

Gold prices in India saw a sharp fall on February 2, extending the correction from their record highs. Silver prices also followed a similar trend. At present, MCX gold is down about 24% from its peak, while MCX silver has plunged nearly 42% from its highest levels.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On February 04?

City	22K Gold (per 10gm)	24K Gold (per 10gm)
Delhi	Rs 1,39,250	Rs 1,51,900
Jaipur	Rs 1,39,250	Rs 1,51,900
Ahmedabad	Rs 1,39,150	Rs 1,51,800
Pune	Rs 1,39,150	Rs 1,51,800
Mumbai	Rs 1,39,100	Rs 1,51,750
Hyderabad	Rs 1,39,100	Rs 1,51,750
Chennai	Rs 1,39,100	Rs 1,51,750
Bengaluru	Rs 1,39,100	Rs 1,51,750
Kolkata	Rs 1,39,100	Rs 1,51,750

What Factors Affect Gold Prices In India?

International market rates, import

duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.