Gold prices are rising for the 16th consecutive day. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold rose by Rs 3,403 on October 17 to an all-time high of Rs 1,30,874. Yesterday, it was at Rs 1,27,471.
So far this year, the price of gold has increased by Rs 54,712. On December 31, 2024, 10 grams of 24-carat gold was priced at Rs 76,162, which has now risen to Rs 1,30,874.
Silver prices also rose today. They have risen by Rs 3,192 to Rs 1,71,275 per kg. Yesterday, silver was Rs 1,68,083 per kg. Earlier, on Tuesday, October 14, silver had reached an all-time high of Rs 1,78,100.
The price of silver has also increased by Rs 85,258 this year. The price of one kilogram of silver was Rs 86,017 on December 31, 2024, which has now risen to Rs 1,71,275 per kilogram.
This year, gold has become costlier by Rs 54,712 and silver by Rs 85,258.
According to a recent report by Goldman Sachs, the bank has set a target of $5,000 per ounce for gold by next year. At the current exchange rate, this would translate to approximately Rs 1,55,000 per 10 grams in rupees. Sandeep Raichura, director of brokerage firm PL Capital, said that gold could reach Rs 1,44,000 per 10 grams.