New Delhi, February 1 – On the day of the Union Budget announcement, gold prices soared to an all-time high, surpassing the ₹84,000 per 10 grams mark for the first time. Similarly, silver prices surged by ₹1,000 per kg, bringing the price to ₹99,600 per kg in Delhi’s bullion market. This significant jump has pushed silver close to its historic ₹1,00,000 per kg milestone.
Gold & Silver Price Surge Across Major Cities
Gold Prices (Per 10 Grams) in Key Markets
| City | 24-Carat Gold (₹) | 22-Carat Gold (₹) |
|---|---|---|
| Delhi | 84,490 | 77,460 |
| Mumbai | 84,340 | 77,310 |
| Ahmedabad | 84,390 | 77,360 |
| Chennai | 84,340 | 77,310 |
| Kolkata | 84,340 | 77,310 |
| Lucknow | 84,490 | 77,460 |
| Patna | 84,390 | 77,360 |
| Jaipur | 84,490 | 77,460 |
| Bengaluru | 84,340 | 77,310 |
| Hyderabad | 84,340 | 77,310 |
| Bhubaneswar | 84,340 | 77,310 |
Silver Prices Surge Towards ₹1 Lakh per Kg
- Silver prices climbed by ₹1,000 per kg, reaching ₹99,600 per kg in Delhi.
- This increase positions silver closer than ever to the historic ₹1,00,000 per kg mark.
Factors Driving the Gold & Silver Rally
- Budget Day Impact – Investors often shift towards precious metals as a safe-haven asset during economic policy announcements.
- Global Economic Uncertainty – Rising geopolitical tensions and inflation concerns are fueling higher gold demand.
- Rupee Depreciation – A weaker Indian Rupee against the US Dollar is pushing gold prices higher in domestic markets.
- Central Bank Purchases – Increased gold reserves accumulation by central banks is driving global demand.
Conclusion
The record-breaking surge in gold and silver prices highlights the growing demand for precious metals as a hedge against economic uncertainty. As gold crosses ₹84,000 per 10 grams, and silver approaches the ₹1,00,000 per kg milestone, investors and traders are closely monitoring further price movements in the bullion market.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.