Gold price today: Today, on Saturday 1 February, the price of gold has broken all records. Finance Minister Nirmala Sitharaman is going to present the budget shortly. The price of 24 carat 10 grams of gold has crossed Rs 84,000 before the budget. This is a gold peak till now. It is expected that the government can increase import duty on gold in the budget. If this happens, the price of gold will be seen further. The government had reduced import duty from 15 per cent to 6 per cent in the last budget.
Gold beyond 84,000 on 1 February 2025
Today, on 1 February 2025, the price of gold has crossed 84,000 rupees on the budget day. Today gold has become expensive by Rs 1,300 compared to yesterday. People are investing in gold for safe investment due to volatility in the global market and change in American policies. Gold prices are increasing due to this increasing demand. Experts believe that if the interest rate cuts and uncertainty in the international market persist, then gold and silver prices may increase further.
Gold and silver demand in India
Apart from this, the demand for gold during marriage and festivals in India increases considerably. In the coming months, Son’s sentiment may climb more due to this demand. If import duty is increased in the budget, then it will directly affect gold prices, which will increase its prices further.
In Delhi-Mumbai Price of 24 and 22 carat gold
In Delhi, 24 carat gold rose by about Rs 1300 to Rs 84,490 per 10 grams, while 22 carat gold remained at Rs 77,310 per 10 grams. In Mumbai, the price of 24 carat gold is trading at Rs 84,340 and 22 carat gold at Rs 77,310 per 10 grams. Learn here on the price of 31 January in 4 big cities of the country.
City name | 22 carat gold rate | 24 carat gold rate |
Delhi | 77,460 | 84,490 |
Chennai | 77,310 | 84,340 |
Mumbai | 77,310 | 84,340 |
Kolkata | 77,310 | 84,340 |
Silver price on 1 February
On Saturday 1 February, the price of silver increased. A day before the budget, the price of silver has increased by Rs 1,000. The price of silver has come to Rs 99,600 per kg. Silver is just a little bit from a record level of Rs 1,00,000.
How is the price of gold decided?
The price of gold in India varies due to many reasons, such as international market prices, government’s import duty, tax and rupee fluctuations. Gold is not just a means of investment, but also an important part of Indian culture. Prices also increase due to increase in demand during marriage and festivals. People consider it a safe investment, so a change in its price also affects the pockets of common people.
Gold Price Today: Gold reached its new peak 83,750, gold became expensive by Rs 910, before budget