People who want to buy gold are afraid of the recent rise in prices in India, which happened before holidays like Makar Sankranti, Pongal, and Magh Bihu. The price of silver has also gone up.
On Saturday, January 10, gold prices in India went up for the second day in a row. 24-karat gold costs Rs 24,600 more per 100 grammes and Rs 2,460 more per 10 grammes. Gold is getting close to its all-time high levels again with this rise.
People who want to buy gold are now wondering if the price will go up even more in the next few days, especially since Makar Sankranti, Pongal, and Magh Bihu are coming up. After going down for two days, silver prices are also going up. Gold is expected to trade at levels of 125,000 to 142,000 and silver at levels of 232,000 to 255,000 in the next few days.
How much does gold cost right now?
24-karat gold prices went up by Rs 1,150 per 10 grammes to Rs 1,40,460 on Saturday. They also went up by Rs 11,500 per 100 grammes to Rs 14,04,600. The least expensive 24-karat gold now costs Rs 14,046 per gram, which is Rs 115 more than it did before. In the same way, 10 grammes of 22-karat gold cost ₹1,28,750 and 100 grammes cost ₹12,87,500, which is an increase of ₹1,050 and ₳10,500, respectively. The least expensive 22-karat gold costs ₹12,875 per gram, which is 105 times more expensive.
Also, the price of 10 grammes of 18-karat gold went up by ₹1,860 to ₹1,05,340, and the price of 100 grammes went up by ₹8,600 to ₹10,53,400. The base price of 18-karat gold was ₹10,534, which was ₹86 more than on January 10. So far in January, the price of gold has gone up by up to 4%.
Silver’s record-breaking rally accelerates. Is the Rs 2 lakh mark now in sight?
How much does silver cost?
Silver prices went down by ₹8,000 between January 8th and 9th, but they went back up after that. One kg of silver cost ₹2.60 lakh on January 10, which is 11,000 more than the previous day. There is a difference of ₹2,600 between 10 grammes and 100 grammes of silver. Rates for silver have gone up by more than 9.2 per cent so far in January, despite the ups and downs.
Putting ₹1 Lakh into silver in 2005 would be worth about ₹16.6 Lakh in 2025
Will prices go up even more?
A story from Good Returns says that AVP-Commodity Research at Kotak Securities, Kaynat Chainwala, said, “US President Donald Trump may impose a 500 percent tariff on countries that continue to buy oil from Russia.” Senator Lindsey Graham said that the Sanctioning Russia Act of 2025 would allow Trump to put pressure on big buyers like China, India, and Brazil to stop buying cheap Russian crude oil, which helps Russia pay for its war in Ukraine.
He also said, “However, this move could make the trade war between the US and China worse, which could make more people want to buy gold and silver as safe assets.” In the meantime, though, the US Supreme Court has to decide what to do about Trump’s executive order. If the court goes against the tariffs, people may not be as worried about a trade war getting worse. This might stop gold and silver prices from going up even more in the near future.
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