Gold Prices Surge in India, Silver Sees Significant Drop
India's gold and silver prices have surged on August 4, according to the India Bullion and Jewellers Association (IBJA). The price of one kilogram of silver has risen by ₹2,130 to reach ₹2.19 lakh. In contrast, the price of 10 grams of 24 carat gold has increased by ₹381 to ₹1.43 lakh.
The prices have fluctuated throughout the year, with gold becoming ₹10,000 costlier since January. Silver, on the other hand, has fallen by ₹12,000 from its peak in December. Commodity expert Ajay Kedia predicts that gold may reach ₹1.60 lakh and silver ₹2.80 lakh by the end of the year.
Investors can consider investing in ETFs (Exchange Traded Funds) based on the fluctuating prices of gold and silver. Gold ETFs or Silver ETFs can be bought and sold like shares, with a minimum investment of less than ₹500.