On February 17, gold and silver prices experienced a decline. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold fell by Rs 1,039, bringing it down to Rs 84,959 from Rs 85,998. Gold had reached a record high of Rs 86,089 on February 14.
Meanwhile, the price of silver dropped by Rs 2,930, settling at Rs 95,023 per kg, down from Rs 97,953 per kg the previous day. The highest price silver ever reached was on October 23, 2024, when it touched Rs 99,151 per kg.
Gold Prices Across Major Cities and Ahmedabad
- Delhi: 10 grams of 22-carat gold is priced at Rs 79,550 and 10 grams of 24-carat gold at Rs 86,770.
- Mumbai: 10 grams of 22-carat gold is priced at Rs 79,400 and 10 grams of 24-carat gold at Rs 86,620.
- Kolkata: 10 grams of 22-carat gold is priced at Rs 79,400 and 10 grams of 24-carat gold at Rs 86,620.
- Chennai: 10 grams of 22-carat gold is priced at Rs 79,400 and 10 grams of 24-carat gold at Rs 86,620.
- Ahmedabad: 10 grams of 22-carat gold is priced at Rs 79,450 and 10 grams of 24-carat gold at Rs 86,670.
Gold Prices Have Increased by Rs 8,797 Since January 1
Since the beginning of this year, the price of 10 grams of 24-carat gold has risen by Rs 8,797, from Rs 76,162 to Rs 84,959. Similarly, silver prices have increased by Rs 9,006, from Rs 86,017 per kg to Rs 95,023 per kg.
Gold Prices Could Reach Rs 90,000 This Year
Ajay Kedia, Director of Kedia Advisory, predicts that after the recent price drop, gold could surge again. With rate cuts in the US and the UK, rising geopolitical tensions, and growing investments in gold ETFs, the demand for gold is expected to rise. As a result, he forecasts that gold prices could reach Rs 90,000 per 10 grams by the end of this year.
