Gold Prices Surge Again After Brief Dip as Bullion Market Turns Volatile

Gold prices have reversed their recent downward trend and moved sharply higher over the past three days, surprising both buyers and investors. Silver has also witnessed a strong rally, reflecting growing volatility in the bullion market.

According to bullion market experts, rising geopolitical tensions involving Iran and the United States, along with higher crude oil prices and global economic uncertainty, have increased demand for safe haven assets such as gold and silver. These factors are believed to be driving the latest surge in prices.

The biggest jump came on Wednesday, when the price of 24 carat gold increased by nearly Rs 2300 per 10 grams in a single day. Since Monday, gold prices have risen by more than Rs 3000, while silver has gained nearly Rs 7000 per kilogram.

The upward trend continued on Thursday morning with a marginal increase in domestic bullion rates. Based on prices available across major market platforms as of 6 am on July 24, 24 carat gold was priced at Rs 146520 per 10 grams after a rise of Rs 10. The price of 22 carat gold also increased by Rs 10 to Rs 134310 per 10 grams. Silver gained another Rs 100 and was trading at Rs 240100 per kilogram.

Gold and silver rates vary slightly from one city to another due to local taxes and market conditions. In Hyderabad, 24 carat gold was priced at Rs 146520 per 10 grams, while 22 carat gold stood at Rs 134310. Silver was available at Rs 245100 per kilogram.

The same gold prices were recorded in Vijayawada and Visakhapatnam, where silver was also trading at Rs 245100 per kilogram. In Delhi, 24 carat gold was priced at Rs 146570 per 10 grams and 22 carat gold at Rs 134460, while silver stood at Rs 240100 per kilogram.

In Mumbai, 24 carat gold was available at Rs 146520 per 10 grams and 22 carat gold at Rs 134310, with silver priced at Rs 240100 per kilogram. Chennai reported similar gold prices, while silver traded at Rs 245100 per kilogram. In Bengaluru, 24 carat gold was quoted at Rs 146520 per 10 grams, 22 carat gold at Rs 134310 and silver at Rs 240100 per kilogram.

With global uncertainties continuing to influence commodity markets, analysts believe gold and silver prices may remain volatile in the coming days. Buyers planning to invest or purchase jewellery are advised to keep a close watch on daily price movements before making a decision