On the dawn of the new week, gold prices witnessed a significant surge, triggering a wave of concern among the public. Ornamental gold prices soared by Rs 160 per gram, while jewelry gold saw a substantial increase of Rs 20 per gram.
The upward trajectory in jewelry gold prices has been consistent over the past several days, with last Saturday seeing a slight dip of ten rupees per gram. However, traders remained steadfast in their belief that gold prices were poised to climb even higher in the coming days.
Today, on the first day of the week, the price of jewelry gold surged to Rs 6,250 per gram, marking a notable increase of Rs 20. Furthermore, a Sawaran Aparana gold is now being retailed at Rs 49,640, adding to the growing concerns among the public.
The surge in ornamental gold prices by Rs 160 per sawan has intensified the confusion among consumers, sparking worries that gold prices may breach the fifty-thousand-rupee mark in the near future.
Meanwhile, silver prices also experienced a modest uptick today. The cost of a gram of silver, which previously stood at Rs 80.50, saw an increase of 30 paise, now retailing at Rs 80.80. A kilogram bar of silver is now priced at Rs 80,800.
The market`s bullish behavior towards gold and silver has left many speculating about the future trajectory of precious metal prices, with heightened uncertainty prevailing among consumers and traders alike.