Gold prices saw a significant increase in the city on Friday, with the price rising by Rs 80 per gram, reaching Rs 7,225.
The price for a sovereign (8 grams) also surged by Rs 640, now standing at Rs 57,800. In contrast, silver prices remained unchanged, with one gram priced at Rs 101 and one kilogram at Rs 1,01,000. Gold prices had been steadily increasing until the end of October but began to decline at the start of November.
On November 1, gold was priced at Rs 7,385 per gram, and a sovereign cost Rs 59,080. However, from November 18, the prices started rising again.
On November 18, the price of gold increased by Rs 60 per gram and Rs 480 per sovereign, continuing with further hikes on November 19 and 20. By November 21, the price per gram had reached Rs 7,145, and the price for a sovereign had risen to Rs 57,160.
This upward trend continued into Friday, reflecting the ongoing fluctuations in the gold market, which are influenced by global economic factors and increasing demand, particularly during the wedding season.