Gold prices remained steady on Thursday as the market awaited the unveiling of the interim budget by finance minister Nirmala Sitharaman. According to Goodreturns, 22 carat gold was priced at ₹5,800 per gram, while 24 carat gold stood at ₹6,327 per gram. The purity of gold is measured in carats, with 24K gold being considered pure as it contains no traces of other metals, while 22K gold contains small amounts of metals like copper and zinc.
Furthermore, the price of silver also remained unchanged on Thursday, with one gram being sold at ₹76.50. In major cities like Delhi, Mumbai, and Kolkata, 10 grams of silver were being sold for ₹765, while in Bengaluru, the price stood at ₹740 for 10 grams.
As the market anxiously awaited the budget announcements, it is expected that no major policy changes will be made in the interim budget, given that it is an election year. The full budget for the financial year 2024-25 will be presented after the Lok Sabha elections, once a new government is formed.
Insight: Investors and consumers closely monitor the budget announcements as they can have a significant impact on the economy, including the prices of precious metals like gold and silver. The anticipation of the interim budget’s impact on the market has resulted in steady prices for both gold and silver on Thursday.
