After a week of fluctuations, the price of gold rose by ₹240 per sovereign on Saturday. The rate of 22-carat gold now stands at ₹90,400 per sovereign and ₹11,300 per gram, up by ₹30 from the previous day.
On Friday, gold had fallen by ₹400, with prices recorded at ₹90,160 per sovereign and ₹11,270 per gram. The yellow metal has seen notable volatility over the past month — from a record high of ₹97,600 per sovereign (₹12,200 per gram) on October 17, to ₹88,600 (₹11,075 per gram) on October 28.
Experts attribute the frequent price swings to global economic factors, including continued gold purchases by central banks and the US Federal Reserve’s decision to retain gold in its reserves. Increased investor buying during price dips has also contributed to rising demand.
Gold has shown remarkable growth this year, climbing from ₹57,200 per sovereign (₹7,150 per gram) on January 1 to ₹90,400 per sovereign today — a rise of ₹33,200, or about 58%.
Meanwhile, silver prices remained unchanged at ₹165 per gram (₹165,000 per kg).