Gold Silver Price 20 Feb: Gold and silver prices have been witnessing sharp fluctuations in recent days, leaving investors surprised by the constant ups and downs in the bullion market. At the same time, families planning weddings or special occasions are facing confusion and hesitation, as the rising rates are significantly impacting jewellery purchases.
On Friday, both precious metals recorded another surge. On February 20, the price of 24-carat gold in the national capital, Delhi, climbed to ₹1,56,650 per 10 grams. A day earlier, on Thursday, gold prices in Delhi’s bullion market had already jumped by ₹1,950, or 1.24 percent, reaching ₹1,58,650 per 10 grams. The steady increase has intensified concerns among buyers who were waiting for prices to stabilize.
Market experts believe that global geopolitical tensions are playing a major role in the current rally. Rising friction between the United States and Iran is fueling uncertainty in international markets. During such periods of instability, investors typically turn to safe-haven assets like gold and silver, increasing demand and driving prices higher. Additionally, the breakdown of talks between Russia and Ukraine has further added to global economic uncertainty, strengthening the appeal of precious metals.
In the international market, gold is trading around $4,991.24 per ounce, reflecting the strong upward momentum. Analysts suggest that if geopolitical tensions persist and global uncertainties deepen, gold and silver prices may continue to remain volatile.
If you are planning to invest in bullion or purchase jewellery in the near future, it is important to closely monitor daily price movements and market trends before making a decision.
Gold Silver Price 20 Feb: Latest prices in major cities (per 10 grams)
| City | 22 carats | 24 carat |
|---|---|---|
| Delhi | ₹1,43,610 | ₹1,56,650 |
| Jaipur / Jaipur | ₹1,43,610 | ₹1,56,650 |
| Chennai | ₹1,43,460 | ₹1,56,500 |
| Bhopal | ₹1,43,510 | ₹1,56,550 |
| Mumbai / Mumbai | ₹1,43,460 | ₹1,56,500 |
| Lucknow | ₹1,43,610 | ₹1,56,650 |
| Ahmedabad / Ahmedabad | ₹1,43,510 | ₹1,56,550 |
| Hyderabad | ₹1,43,460 | ₹1,56,500 |
| Chandigarh | ₹1,43,610 | ₹1,56,650 |
| Kolkata | ₹1,43,460 | ₹1,56,500 |
Silver Rate Today 20 Feb: Latest Silver Rate (Per Kg)
| City | 1 Kg |
|---|---|
| Delhi | ₹2,70,100 |
| Mumbai | ₹2,70,100 |
| Jaipur | ₹2,70,100 |
| Lucknow | ₹2,70,100 |
| Kolkata | ₹2,70,100 |
| Pune | ₹2,70,100 |
| Patna | ₹2,70,100 |
| Ahmedabad | ₹2,70,100 |
| Meerut | ₹2,70,100 |
| Ludhiana | ₹2,70,100 |
Gold and Silver Price Hike Reason: Reasons for increase in gold and silver prices?
Following a historic surge in gold and silver prices, prices began to crash steadily, and this trend continued for a few days. Now, gold and silver prices have picked up pace again, and silver is trading with another surge. Let’s explore in detail why prices crashed.
- Profit-booking: After prices reached all-time highs, gold and silver were seen as safe havens, leading investors to sell for profits, putting pressure on gold and silver prices.
- Strong Dollar: The dollar continued to strengthen against the rupee, which weakened demand and led to a sharp rise in the prices of gold and silver.
- Huge jump in a short period of time: Gold and silver prices have seen a huge jump in a few days, due to which this bubble was sure to burst.
- The market is also keeping an eye on the impact of US-Iran talks and efforts to end the Russia-Ukraine war on crude oil prices.
Also Read: Gold & Silver Prices plunge on thursday – Best time to buy! Latest 18K, 22K & 24K rates inside
