Gold-Silver Rate : Increase in gold prices for the second consecutive day, silver also became very expensive

For the second consecutive day, gold prices have risen in the Indian market. As a result, there is speculation of a significant price increase during the peak wedding season. This impact is being seen in both the local and global markets. In many cities, including Delhi and Mumbai, gold and silver rates are reaching new highs. Due to the wedding season and the boom in the global market, 24-carat gold in Delhi has reached ₹1,28,070 per 10 grams. Likewise, silver has also become extremely expensive.

Gold and silver prices are rising due to increased purchases during the wedding season, growth in the global market, and interest rate signals from the Federal Reserve. These factors have also sparked interest among investors. Today, the price of 24-carat gold is ₹1,26,081 per 10 grams, while the price of silver has reached ₹1,59,025 per kilogram.

Investors' attention focused on gold

In India's capital Delhi, the price of 24-carat gold has reached ₹128,070 per 10 grams, while the price of 22-carat gold is ₹116,610 per 10 grams. Similarly, in cities like Mumbai, Chennai, and Kolkata, the price of 22-carat gold is ₹117,260 per 10 grams, and 24-carat gold has reached ₹127,920 per 10 grams. Along with gold, silver prices are also surging. Today, its price has reached ₹169,100 per kilogram. Seeing that today's silver price has increased by ₹4,000, customers are worried.

Federal Reserve Impact

Christopher Waller, an official of the U.S. Federal Reserve, has stated that the labor market is weakening and there is a possibility of a 0.25% interest rate cut in December. This has led to increased investment in gold, which is supporting prices. However, the rising prices of gold and silver have left consumers disappointed. This is because there is high demand for gold jewelry during the wedding season. But at the same time, gold and silver prices have skyrocketed.