If you’ve been thinking about buying gold, brace yourself. Prices have climbed to Rs 1,58,790 per 10 grams for 24-karat gold in major cities like Mumbai, Chennai, and Bengaluru. Delhi is seeing even higher rates at around Rs 1,58,940 per 10 grams because of local taxes.
Why the sudden jump? People are playing it safe. With global economic uncertainty and weak economic data coming from overseas markets, everyone’s rushing to gold as a secure investment. Silver isn’t far behind either, hovering around Rs 2,90,000 per kilogram.
What makes this interesting is the timing. We’re in February, and gold has already climbed 12% year-to-date. That’s outpacing most equity investments. The rupee weakness against the dollar and ongoing tensions in the Middle East are pushing more people toward precious metals.
For anyone planning to buy jewelry or invest in gold, keep an eye on making charges and GST. The final amount you pay will be higher than these base rates. Jewellers are advising buyers to check prices throughout the day since they fluctuate based on market movements.