On March 1, 2025, the market for gold and silver saw notable fluctuations with prices decreasing across major Indian cities, signaling shifts influenced by both domestic and international factors.
Today's gold rate reflected a decline, with the cost of 24 carat gold being reported at ₹8700.3 per gram, which marks a significant drop of ₹540. Meanwhile, 22 carat gold is priced at ₹7976.3 per gram, down ₹500 from previous figures. The fluctuation rate for 24 carat gold over the last week stands at -0.05%, with monthly changes reflecting a bigger dip of -5.43%.
Looking at specific city rates, Chennai noted the 24 carat gold at ₹86851.0 per 10 grams, which is noticeably lower compared to the ₹87831.0 recorded just the day before. Other cities echoed similar trends: Bangalore's rate was ₹86845.0 per 10 grams, Hyderabad's was ₹86859.0, and Visakhapatnam's came in at ₹86867.0.
On the silver front, the drop was equally significant. Chennai reported silver prices at ₹107600.0 per kilogram, down from ₹108600.0 just yesterday. Prices across other major cities saw parallel declines: Bangalore’s silver stood at ₹99000.0, Hyderabad at ₹108200.0, and Vijayawada at ₹109000.0, all dropping from their previous values.
The consistent decrease of gold prices marks the third consecutive day of declines, as confirmed by recent reports. "Gold has become cheaper for the third consecutive day. Today, the price of gold has become cheaper by Rs 500," noted analysts following the market trend.
Looking at how these prices are determined, factors such as global market trends, local demand, taxes set by the government, and currency valuation play key roles. The price of one kilogram of silver has been stable, albeit showing fluctuations indicative of market conditions. For March 1, 2025, the price is pinned at ₹96,900 per kilogram, aligning with the overall downward trend, as the price has fallen by ₹1,000.
It’s important to note the significance of these commodities not just as investment vehicles, but as cultural staples during various festivals and events across India. The dynamics related to gold and silver often dictate spending behaviors during peak seasons.
Gold and silver prices can be checked conveniently via missed calls to designated helplines. Consumers can obtain quick information on current rates and market insights without stepping out of their homes. This system is particularly useful for those planning purchases or investments, especially during festivals when demand increases.
To summarize, the precious metals market on March 1, 2025, is characterized by falling prices for both gold and silver, making it a pivotal time for consumers and investors alike. While fluctuations occur regularly, the current trends reflect broader economic conditions and consumer sentiments. With gold priced lower now, potential buyers may find it worthwhile to stay alert for opportunities.