Gold has become expensive, check the rate of your city before buying it

Gold Price Today: The results of the assembly elections were declared in Maharashtra on Saturday, in which the announcement of the formation of the Mahayuti government affected politics as well as the market. Amidst the election stir, a big change was seen in the prices of gold and silver in big cities like Mumbai, Delhi, and Chennai. Experts say that political developments and investor sentiment are affecting precious metals.

Gold and Silver Price in Mumbai

A big rise was seen in the price of gold in Mumbai on Saturday. The price of 24 carat gold jumped by Rs 870 per 10 grams, taking it to Rs 78857.0 per 10 grams. Earlier it was Rs 77657.0 per 10 grams.

Talking about silver, its price on Saturday was Rs 94300.0 per kg, which was Rs 94500.0 a day earlier. However, it is still at a higher level than last week, when the price was Rs 91900.0 per kg.

Gold and silver prices in Delhi

Gold prices also saw a jump in the capital Delhi. The price of gold on Saturday was recorded at Rs 79003.0 per 10 grams, which was Rs 77803.0 on Friday. Compared to last week, it has increased by about Rs 3200 per 10 grams.

The price of silver was Rs 95000.0 per kg on Saturday, which was Rs 95200.0 on Friday. However, last week it was Rs 92600.0 per kg.

Gold and silver prices in Chennai

Gold prices also saw an increase in Chennai. The price of 24 carat gold on Saturday was Rs 78851.0 per 10 grams, which was Rs 77651.0 on Friday. Compared to last week, the price of 10 grams of gold increased by about Rs 3000.

Silver prices remained stable in Chennai, where it was at Rs 103600.0 per kg on Saturday. However, it was at Rs 101700.0 per kg last week.

Reason behind price change

Experts believe that the results of Maharashtra elections and uncertainty in the global market have affected the prices of gold and silver. Gold and silver are traditionally considered safe investments, and investors are attracted to them in times of political instability.

In addition, the strength of the dollar in the international market and changes in crude oil prices are also affecting the metal market.

What's next in gold and silver?

Gold and silver prices are likely to rise further on Monday, as political developments in Maharashtra will continue to impact investor sentiment. It may be time for investors and customers to reconsider their strategies.

In this period of rising prices, experts are advising to study the market situation thoroughly while investing in gold and silver.