Gold and Silver Prices Surge, Know the New Rate for 24 Carat Gold

Gold Update: Today, gold and silver prices saw a surge in Lucknow's bullion market. 24-carat gold has reached ₹1,25,000 per 10 grams, while silver is selling at ₹1,54,000 per kilogram. Amidst the festive season and global market uncertainty, customers have been advised to make purchases only after checking the prices.

Gold and Silver Prices Surge: In the bullion market of the capital Lucknow, a slight surge was observed in the prices of both gold and silver today. According to the Sarraf Association, the fluctuation in gold prices continues in the local market, while significant changes have also been recorded in silver prices. The rising prices of gold and silver in the global market and the strengthening of the dollar are clearly impacting the local market.

According to the latest data from the Sarraf Association, 24-carat gold has reached ₹1,25,000 per 10 grams today. Meanwhile, 22-carat gold is available at ₹1,15,200 per 10 grams, and 18-carat gold is priced at ₹95,100 per 10 grams. These rates are for pure gold only. Retail customers will have to pay GST (Goods and Services Tax), making charges, and hallmarking fees separately in addition to these rates.

Silver Prices Also See a Rise

Along with gold, silver prices are also witnessing an upward trend. The Sarraf Association has informed that the price of silver jewellery in the Lucknow market has reached ₹1,54,000 per kilogram today. This increase in silver prices is considered a result of the fluctuations in international market prices.

Traders Cautious, Buyers Indecisive

Bullion trader Vinod Maheshwari stated that the market is currently experiencing price volatility. He advised customers to check the current rates before making any purchases, as the market sentiment is mixed with both bullish and bearish trends. "There is a period of price fluctuations, so every customer must check the latest rates before buying gold or silver," said Vinod Maheshwari, a bullion trader. He added that due to the festive season, demand in the market remains strong, but traders are cautious due to fluctuations in international gold prices and changes in the dollar exchange rate.

Demand Increases During Festive Season

With the approach of Diwali, Dhanteras, and the wedding season, an increase in gold and silver purchases is being observed. According to bullion market shopkeepers, there is a greater rush of customers now compared to before. While some customers are buying gold as an investment, many traditionally consider buying gold and silver coins and jewellery on Dhanteras auspicious. In major bullion markets of Lucknow, such as Chowk, Aminabad, Alambagh, and Hazratganj, customer activity has increased significantly in recent days. However, small investors appear to be a bit cautious due to the rising prices.