January 31; Gold rate surges in Hyderabad, Delhi, Chennai and Bangalore

The gold market has seen an immense rise lately. Prices reached new heights with the latest update of data where the gold rate in Hyderabad, Vijayawada, Guntur, Proddutur, and Bengaluru increases by Rs 1200 for 22-carat and Rs 1310 for 24-carat per 10 grams.
As of January 31, the gold rate in these cities stands at Rs 77,300 for 22-carat and Rs 84,330 for 24-carat per 10 grams. In Chennai, the gold rate has also increased by Rs 1200 for 22-carat and Rs 1310 for 24-carat per 10 grams, taking the prices to Rs 77,300 for 22-carat and Rs 84,330 for 24-carat per 10 grams.
The current gold rate in Delhi has risen to Rs 1200 for 22-carat and Rs 1310 for 24-carat per 10 grams to take the prices to Rs 77,450 for 22-carat and Rs 84,480 for 24-carat per 10 grams.
Even the silver rate has experienced a great jump and has risen by Rs 1000 per kilogram. Silver rate today January 31 is standing at Rs 1,07,000 per kilogram at Hyderabad, Vijayawada, Chennai, Bengaluru, and Mumbai while at Delhi is at Rs 99,500 per kilogram.
The surge in gold and silver prices is attributed to various factors, including the anticipation of potential import duty hikes. Market participants are positioning themselves to mitigate any adverse effects of such a move, leading to a significant increase in prices.
For instance, it is worth mentioning that the Union Budget 2025 will be presented by Finance Minister Nirmala Sitharaman, and everyone is eagerly waiting for information about new import duties on gold and its anticipations in the market.
Also read: Squid Game Season 3 Release Date Revealed: Details inside!