In a significant development on Saturday morning (October 12, 2024), the cost of gold saw a sharp rise, increasing by Rs. 200 per sovereign. The price per gram of gold also surged by Rs. 25, leading to noticeable changes in the precious metals market.As of the latest figures, one sovereign of gold is now priced at Rs. 56,960.00, while a gram of gold costs Rs. 7,120.00. The increase in the gold price has made the cost of 1 gram of pure gold (24 K) reach Rs. 7,575.00, reflecting a growing demand and market fluctuations.
In contrast, silver prices continue to maintain a strong position. A kilogram of silver is currently priced at Rs. 103,000.00, with the price of one gram of silver standing at Rs. 103.00.
These price changes are driven by global market trends, including fluctuations in international gold and silver prices, along with local demand. Investors and consumers alike are closely watching these trends as they adjust to the rising costs of precious metals.