Gold, silver prices surge sharply in a week; 24-carat gold at Rs 1,53,727 in Nagpur

Gold and silver prices have been rising sharply over the past few days. According to data from the India Bullion and Jewellers Association (IBJA), silver prices rose by Rs 7,988 this week, taking the price to nearly Rs 2,37,000 per kilogram. Earlier, on September 11, silver was priced at Rs 2,29,000.

Gold has also shone brighter during this period. The price of 10 grams of 24-carat gold rose from Rs 1,52,000 to Rs 1,54,000. Gold prices rose by Rs 1,789 this week.

Experts say that along with ordinary buyers, several central banks around the world, including the RBI, are buying gold on a large scale. Given the uncertainty prevailing globally, gold prices are expected to keep rising. Silver could also see a big jump once conditions improve. Based on current market trends, it is estimated that gold could reach Rs 1,70,000 and silver could reach Rs 3,00,000 by December.

According to IBJA, the price of 24-carat gold stood at Rs 1,53,727 per 10 grams on Saturday, September 19. By purity, 24-carat gold was selling at Rs 1,53,727, 22-carat at Rs 1,53,111, 20-carat at Rs 1,40,814, 18-carat at Rs 1,15,295 and 14-carat at Rs 89,930 per 10 grams.

The same gold rate was seen across cities. Mumbai, Thane, Ratnagiri, Pune, Nagpur, Kolhapur, Chhatrapati Sambhajinagar, Jalgaon, Sangli and Baramati all recorded a 24-carat gold price of Rs 1,53,727 per 10 grams on Saturday.

As for silver, IBJA put the price at Rs 2,36,908 per kilogram on Saturday, September 19.