Gold Rate and Silver Price Today – February 9, 2025: Check Latest Rates in India
Gold Rate and Silver Price Today – February 9, 2025: Check Latest Rates in IndiaGold prices in India saw a slight uptick on Sunday, February 9, 2025. The price of 24-carat gold increased by ₹170 per gram, reaching ₹8684.3 per gram, while 22-carat gold was priced at ₹7962.3 per gram, reflecting a rise of ₹160 per gram.
Meanwhile, silver prices also edged up, with the cost of silver at ₹102600 per kg, marking an increase of ₹100 per kg from the previous day’s rates.
Let’s take a deeper look into today’s gold and silver prices across major Indian cities, including key factors influencing the market.
Gold Rate in Major South Indian Cities
Gold prices differ across various regions in India due to factors like demand, local taxes, and transportation costs. Here’s a breakdown of gold prices in some of the top South Indian cities:
| City | Gold Rate Today (₹/10 gm) | Gold Rate Yesterday (₹/10 gm) | Gold Rate Last Week (₹/10 gm) |
|---|---|---|---|
| Chennai | ₹86,691 | ₹86,541 | ₹84,501 |
| Bangalore | ₹86,685 | ₹86,535 | ₹84,495 |
| Hyderabad | ₹86,699 | ₹86,549 | ₹84,509 |
| Visakhapatnam | ₹86,707 | ₹86,557 | ₹84,517 |
| Vijayawada | ₹86,705 | ₹86,555 | ₹84,515 |
Silver Price in Major South Indian Cities
Like gold, silver prices vary from city to city. Below are the latest silver prices across key South Indian cities:
| City | Silver Price Today (₹/Kg) | Silver Price Yesterday (₹/Kg) | Silver Price Last Week (₹/Kg) |
|---|---|---|---|
| Chennai | ₹1,09,700 | ₹1,09,600 | ₹1,09,600 |
| Bangalore | ₹1,01,600 | ₹1,01,500 | ₹1,01,500 |
| Hyderabad | ₹1,10,300 | ₹1,10,200 | ₹1,10,200 |
| Visakhapatnam | ₹1,08,700 | ₹1,08,800 | ₹1,08,600 |
| Vijayawada | ₹1,11,100 | ₹1,11,200 | ₹1,11,000 |
Gold and Silver Price Fluctuations
Over the past week, 24-carat gold has shown a decline of -2.35%, and in the past month, prices have dropped by -8.12%. This indicates a correction in gold prices following previous highs.
Silver prices, on the other hand, have been relatively stable, showing only minor fluctuations in the past week.
Factors Affecting Gold and Silver Prices
Several factors contribute to the daily fluctuations in gold and silver prices:
- Global Demand and Supply
- Gold and silver prices largely depend on international demand. Increased demand from countries like China, the USA, and India can drive prices higher.
- US Dollar Strength
- Since gold is globally traded in US dollars, any fluctuations in the dollar’s value can impact gold prices in India. A stronger dollar usually pushes gold prices down, while a weaker dollar can make gold more expensive.
- Inflation and Interest Rates
- Gold is often considered a hedge against inflation. When inflation rises, investors prefer to buy gold, pushing prices up.
- Higher interest rates tend to reduce gold’s appeal as it does not generate interest or dividends.
- Government Regulations and Import Duties
- In India, gold prices are significantly influenced by government policies, such as import duties and restrictions on gold imports. Any policy change can lead to fluctuations in gold rates.
- Geopolitical and Economic Uncertainty
- Economic slowdowns, geopolitical tensions, and market uncertainties tend to increase demand for gold and silver as safe-haven investments.
Why Invest in Gold and Silver?
Both gold and silver have historically been seen as safe investments, particularly during economic downturns. Here’s why investing in these metals remains a good strategy:
✔ Gold as a Safe Haven – During economic uncertainty, investors prefer gold as a reliable asset.
✔ Silver’s Industrial Demand – Silver is not just a precious metal but also widely used in industries like electronics and solar energy, making it a valuable asset.
✔ Portfolio Diversification – Holding gold and silver can help balance your investment portfolio, reducing risk from stock market fluctuations.
Conclusion
Gold and silver prices in India saw a slight increase today, with gold gaining ₹170 per gram and silver rising ₹100 per kg. While gold has seen a downward trend over the past month, experts believe factors like global inflation and economic uncertainties may influence future price movements.
For those considering investing in gold and silver, it’s crucial to stay updated with the latest market trends and consult with financial experts before making a decision.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.