Gold, silver prices surge across India after US Federal Reserve hikes rates

Gold and silver prices are gradually rising after Federal Reserve Chairman Jerome Powell raised interest rates for the 4th time in 2022. Know about rising gold and silver prices-

Gold and silver have always been valuable assets for protecting against inflation. Prices suffered as the US Federal Reserve raised interest rates to combat inflation. Read on to learn about the current Gold and Silver prices in your city.

The primary driving force behind rising and falling gold and silver prices is supply and demand.
While gold is most expensive in Chennai, Coimbatore, and Madurai, it is less expensive in Kerala, Hyderabad, Vijayawada, Mumbai, Kolkata, Visakhapatnam, and Bhubaneswar.

In metropolitan cities, 24-carat gold costs Rs 51,380 in Kolkata and Mumbai, 22-carat gold costs Rs 47,100, and silver costs Rs 565 per 10 grams. On Thursday, the market opened at Rs 46,450 for 22-carat gold and closed at Rs 47,100, while 24-carat gold was slightly higher, closing at Rs 51,380 against its previous close of Rs 50,680. Similarly, silver was fixed at Rs 565 per 10 gram, up from Rs 546 per 10 gram previously.

Based on the “Good returns report,” here is a guide to gold and silver prices in various Indian cities.

Gold and Silver prices in major places (per 10 grams)

Source:BS