Hyderabad, February 4: Gold prices in India have surged sharply, with 24-carat gold reaching Rs 85,200 per 10 grams (approximately one tola) as of February 4, 2025. This marks a Rs 1,150 increase in a single day, bringing prices closer to the Rs 90,000 mark.
Analysts attribute the spike to global economic uncertainties, particularly U.S. President Donald Trump’s decision to impose substantial tariffs on imports from Canada, Mexico, and China. In response, Canada and China have announced retaliatory taxes on U.S. goods, leading to volatility in international stock markets. Investors seeking safe-haven assets have shifted towards gold, driving its prices higher.
In addition to global factors, the ongoing wedding season in India has further fueled demand, contributing to the rise. Internationally, gold is now priced at $2,827.50 per ounce, reflecting a $7.50 increase from the previous day. Silver prices have also climbed, currently standing at $32.10 per ounce.
Experts suggest that if these conditions persist, gold prices may continue to set new records. Silver prices are also projected to rise, potentially reaching Rs 1,25,000 per kilogram in the domestic market, up from the current Rs 1,06,000. Notably, in 2024, silver had already reached an all-time high of Rs 1,02,000 per kilogram.
Investors and consumers are advised to monitor market developments closely, as the precious metals market remains volatile amid ongoing geopolitical and economic shifts.
