Gold price in India stood at Rs 82,310 per 10 grams as of 7:20 a.m. on Feb. 1, according to the India Bullion Association. Ahead of the Union Budget 2025, set to be announced by Finance Minister Nirmala Sitharaman starting at 11 a.m., the prices were on a steady rise as the changes in policy, stances and way ahead for sectors are awaited. The prices have been rising on account of various factors including global tensions and possible policies like the tariffs.
The price on Friday stood at Rs 81,380, according to the IBA and the futures prices were also hovering near all-time highs during the week running up to the Budget.
Rates in New Delhi stood at Rs 82,020 per 10 grams, while the price in Mumbai was higher at Rs 82,160. In Kolkata, the rate stood at Rs 82,050, while in Bengaluru, the rate crossed Rs 82,220, according to the association. With the price at Rs 82,400, Chennai continued to see the highest rate in the country.
The global rate of the yellow metal hit an all-time high of $2,791 on Friday, according to Bloomberg. The decline of the dollar after the latest US economic data showed lower growth than expected pushed demand for the safe-haven investment.
Global And Futures Rate Check
Global spot gold prices settled at $2,797, according to the World Gold Council.
The futures prices for Feb. 5, 2025 stood at Rs 82,194 and the silver futures prices were at Rs 93,453, according to the Multi Commodity Exchange.
Global prices had escalated to levels near the previous record high. This was when the prices hit $2,815 on Jan. 31, according to the WGC.
Silver Rates
Silver price stood at Rs 94,260 as of 7:20 a.m., according to the India Bullion Association.
The strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
. Read more on Budget by NDTV Profit.Gold price in India stood at Rs 82,310 per 10 grams as of 7:20 a.m. on Feb. 1, according to the India Bullion Association. Read MoreBudget, Markets
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