Gold rose above $4,310 an ounce after the Fed's 25bp hike. Indian 24K gold at ₹1,53,600/10gm, up 39% YoY; silver up 85%. Check city-wise rates.
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Gold and silver prices recovered Thursday after the US Federal Reserve raised its benchmark rate by 25 basis points, taking the target range to 3.75%-4%. Spot gold rose more than 1% to around $4,310 an ounce, while silver also gained, according to Reuters.
In India, 24-carat gold was priced at ₹1,53,600 per 10 grams, and 22-carat gold at ₹1,40,800 per 10 grams, based on Bullions.co.in data. Silver 999 Fine stood at ₹2,35,140 per kilogram. These are bullion rates before making charges and taxes.
City-wise retail prices varied slightly:
| City | 24K Gold (₹/10g) | 22K Gold (₹/10g) | Silver 999 (₹/kg) |
|---|---|---|---|
| New Delhi | 1,53,060 | 1,40,305 | 2,34,310 |
| Mumbai | 1,53,320 | 1,40,543 | 2,34,710 |
| Bengaluru | 1,53,440 | 1,40,653 | 2,34,890 |
| Kolkata | 1,53,120 | 1,40,360 | 2,34,400 |
| Hyderabad | 1,53,560 | 1,40,763 | 2,35,080 |
| Chennai | 1,53,770 | 1,40,956 | 2,35,390 |
Over the past year, 24K gold has risen 39.22%, according to Bullions. Silver has gained 85.49%. A year ago, gold was around ₹1,10,350 per 10 grams, while silver was about ₹1,26,850 per kg. An investment of ₹1 lakh in gold a year ago would be worth roughly ₹1.39 lakh at current bullion rates; the same amount in silver would be worth about ₹1.85 lakh, before transaction costs.
Customers should note that jewellers add making charges, GST and other taxes, so the final price paid for jewellery will be higher than the bullion rate.
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