The price of gold witnessed a sharp increase today, with rates soaring by ₹880 per sovereign in the morning trade. A sovereign (8 grams) of 22K gold is now priced at ₹65,840, while the cost of one gram has risen by ₹110 to ₹8,230.Meanwhile, the price of 24K pure gold has also surged, with one gram now costing ₹8,978. This increase comes amid fluctuating global gold rates and a rise in domestic demand.
Silver prices have also seen an upward trend. One kilogram of silver is now priced at ₹1,12,000, while a gram costs ₹112.
Experts suggest that the rise in gold and silver prices is influenced by international market trends, inflation concerns, and a growing preference for precious metals as a safe investment. Investors and jewelers are keeping a close watch on the market, anticipating further movements in the coming days.