Gold and silver rates increased before the budget, silver price has crossed Rs 92 thousand
The Union Budget is set to be presented on February 1, and people across the country are already sharing their thoughts and expectations about it. These speculations have also impacted the bullion market, particularly the prices of gold and silver. Interestingly, silver has reached its highest price level in 2025 so far.
There’s a growing expectation that the government might increase the import duty on gold and silver in this budget. This has led to a surge in demand for both metals even before the budget announcement. Many invest heavily in gold and silver, hoping to secure their investments before any potential price hikes. However, there’s no official confirmation yet about any changes in import duties for gold and silver in this budget. Still, rumours suggest that the import duty on these precious metals might go up this time.
Silver Prices Hit a Record High
Today, the price of silver stands at ₹92,184 per kilogram. While there was a slight dip in the prices of gold and silver on January 25 and 27, the rates have been steadily climbing since then. On January 30, silver was sold at ₹91,600 per kilogram. According to bullion market experts, the prices of gold and silver are likely to rise even further in the coming months. In fact, silver might even touch the ₹1 lakh per kilogram mark soon.
Gold Prices Also on the Rise
Gold prices have also seen an upward trend alongside silver. Today, the price of 24K gold increased by ₹300. As per the India Bullion and Jewellers Association (IBJA), the price of 24-carat pure gold (999 purity) is now ₹81,303 per 10 grams. On January 30, the price of 24K gold was ₹81,006. The IBJA releases daily rough rates for gold, silver, and other metals, which are based on their purity levels. These rates do not include GST charges.
Here’s a quick look at today’s gold prices:
- 24K gold (999 purity): ₹81,303 per 10 grams
- 23K gold (995 purity): ₹80,977 per 10 grams
- 22K gold (used in jewellery): ₹74,474 per 10 grams
- 18K gold: ₹60,977 per 10 grams
- 14K gold: ₹47,562 per 10 grams
How to Check Gold and Silver Prices Easily
The India Bullion and Jewellers Association (IBJA) releases daily prices for gold and silver from Monday to Friday. Prices are not updated on weekends due to market holidays. If you want to check the rough prices of gold and silver, you can simply give a missed call to 8955664433. This service makes it easy for customers to stay updated on the latest rates.