Gold prices maintained their upward momentum today, marking a sharp rise on the occasion of Makar Sankranti. The festive spirit fueled demand, pushing rates higher across all major purity levels.
Sharp Increase in 24K Gold Prices
The price of 24K gold jumped by ₹109 per gram. It now trades at ₹14,362 per gram. This surge highlights sustained investor and buyer interest in the highest purity metal. Many people consider 24K gold a safe haven during festive seasons.
22K Gold Becomes Costlier for Jewellery
Similarly, 22K gold witnessed a significant increase of ₹100 per gram. It settled at ₹13,165 per gram. This rise makes gold jewellery more expensive for consumers. Jewellery buyers often prefer 22K gold for its balance of purity and durability.
18K Gold Also Advances
18K gold advanced by ₹82 per gram. It now trades at ₹10,772 per gram. This category appeals to those seeking more affordable options without compromising much on quality. The consistent rise across carats indicates broad-based demand.
Factors Driving the Gold Rally
Several factors contributed to this price surge. Makar Sankranti traditionally boosts gold purchases as people buy for gifts and investments. Global economic uncertainties also play a role, driving safe-haven demand. Local market dynamics and currency fluctuations further influence rates.
Experts note that gold prices have been climbing steadily over the past few days. This trend reflects both seasonal and macroeconomic influences. Consumers should monitor these changes closely, especially if planning major purchases.
The current rates underscore gold's enduring appeal in India. Whether for investment or adornment, gold remains a key asset during festivals like Makar Sankranti.
