Gold and silver have long been cherished not only for their beauty but also for their value as investment assets. Keeping abreast of todays gold and silver prices is essential for investors, jewelers, and consumers alike. In this article, we’ll delve into the current prices, compare them with the previous day’s rates, explore factors influencing these rates, and provide actionable insights for those interested in these precious metals.
Current Market Overview – Todays Gold and silver prices (March 6, 2025)
Gold Price Today in Major Indian Cities
| City | 22K Gold (per 10g) | 24K Gold (per 10g) |
|---|---|---|
| Delhi | ₹80,810 | ₹88,140 |
| Mumbai | ₹80,660 | ₹87,990 |
| Chennai | ₹80,660 | ₹87,990 |
| Kolkata | ₹80,660 | ₹87,990 |
Silver Price Today in Major Indian Cities
| City | Silver Price (per kg) |
|---|---|
| Delhi | ₹97,900 |
| Mumbai | ₹97,900 |
| Chennai | ₹106,900 |
| Kolkata | ₹97,900 |
Comparison with Previous Day’s Prices (March 5, 2025)
To provide a clearer perspective, here’s a comparison of today’s gold and silver prices with those from the previous day:
Gold Prices Comparison
| City | Date | 22K Gold (per 10g) | 24K Gold (per 10g) |
|---|---|---|---|
| Delhi | March 5, 2025 | ₹80,260 | ₹87,540 |
| March 6, 2025 | ₹80,810 | ₹88,140 | |
| Mumbai | March 5, 2025 | ₹80,110 | ₹87,390 |
| March 6, 2025 | ₹80,660 | ₹87,990 | |
| Chennai | March 5, 2025 | ₹80,110 | ₹87,390 |
| March 6, 2025 | ₹80,660 | ₹87,990 | |
| Kolkata | March 5, 2025 | ₹80,110 | ₹87,390 |
| March 6, 2025 | ₹80,660 | ₹87,990 |
Silver Prices Comparison
| City | Date | Silver Price (per kg) |
|---|---|---|
| Delhi | March 5, 2025 | ₹98,000 |
| March 6, 2025 | ₹97,900 | |
| Mumbai | March 5, 2025 | ₹98,000 |
| March 6, 2025 | ₹97,900 | |
| Chennai | March 5, 2025 | ₹107,000 |
| March 6, 2025 | ₹106,900 | |
| Kolkata | March 5, 2025 | ₹98,000 |
| March 6, 2025 | ₹97,900 |
International Gold and Silver Market Trends
As of today, gold is trading at approximately $2,923 per ounce, while silver is around $31.57 per ounce in international markets. These global rates significantly influence domestic prices in India.
The Significance of Monitoring Precious Metal Prices
Gold and silver serve as economic barometers, reflecting the health of global markets. Tracking their prices helps individuals make informed decisions, whether they’re investing, purchasing jewelry, or hedging against economic uncertainties.
Factors Influencing Today’s Gold and Silver Prices
Several elements impact the daily fluctuations of gold and silver prices:
- Global Economic Indicators: Inflation rates, employment data, and GDP growth can sway investor sentiment.
- Geopolitical Events: Political tensions, wars, and international disputes often drive investors toward safe-haven assets like gold and silver.
- Currency Strength: A weaker US dollar typically makes gold and silver more affordable for holders of other currencies, boosting demand.
- Supply and Demand Dynamics: Mining outputs and industrial demand, especially for silver, play crucial roles in determining prices.
Where to Buy Gold and Silver
1. Jewelry Stores and Showrooms
One of the most common places to buy gold and silver is at local jewelry stores or branded showrooms. These outlets offer a wide variety of options including ornaments, coins, and bars.
- Branded Chains: Popular brands like Tanishq, Kalyan Jewellers, and Malabar Gold & Diamonds are known for offering certified and hallmarked gold and silver products.
- Local Jewelers: Smaller local jewelers also sell gold and silver, but you should be extra cautious about purity and certification.
Tip: It’s always advisable to buy from reputed sellers who provide purity certifications and transparent pricing.
2. Online Platforms and E-commerce Websites
With digital commerce growing, several trusted websites now offer gold and silver for purchase. You can buy coins, bars, and even jewelry online.
- Popular Platforms: Tanishq, PC Jeweller, CaratLane, and even trusted e-commerce websites like Amazon and Flipkart.
- Advantages: Online platforms often have better deals, discounts, and a wide selection.
- Caution: Ensure you are buying from verified sellers and check customer reviews before purchasing.
3. Banks
Many banks in India sell gold coins and bars directly to customers. However, it’s important to note:
- Banks usually do not buy back gold they sell.
- Prices at banks can be slightly higher than the market rate due to packaging and certification costs.
If you are buying gold for investment purposes (rather than for jewelry), banks can be a safe option due to the guaranteed purity.
4. Digital Gold Platforms
If you don’t want to store physical gold, you can invest in Digital Gold. Many apps like Paytm, Google Pay, PhonePe, and investment platforms like Groww offer digital gold options.
- You can invest in very small amounts, even ₹100.
- Your gold is stored safely in secure vaults, and you can request physical delivery later.
Tip: This is a good option for small investors or those wanting flexibility.
5. Gold and Silver Exchanges
For larger investments, some investors purchase gold and silver through commodity exchanges like:
- Multi Commodity Exchange (MCX)
- National Spot Exchange Limited (NSEL)
This option is more suitable for professional investors and traders, not casual buyers.
How to Buy Gold and Silver – Step by Step Guide
Step 1: Decide Your Purpose
- Investment: Focus on coins, bars, or digital gold.
- Jewelry: Visit a reputed jeweler and explore certified designs.
- Trading: Use commodity exchanges like MCX.
Step 2: Research Current Prices
Before purchasing, check today’s gold and silver prices. Prices fluctuate daily based on global market trends, so knowing the latest rates helps you get a fair deal.
- Reliable Sources: News websites, financial apps, or jewelers’ websites.
Step 3: Choose a Reputed Seller
- For jewelry: Visit stores with a hallmark certification.
- For coins and bars: Choose banks, reputed jewelers, or trusted online platforms.
- For digital gold: Use government-verified platforms like MMTC-PAMP or SafeGold.
Step 4: Verify Certification
Always ensure the gold you purchase is certified and hallmarked by the Bureau of Indian Standards (BIS).
- Hallmark Components: It includes the BIS logo, the karat (purity level), the jeweler’s identification mark, and the year of certification.
Step 5: Check Making Charges
Jewelry prices include making charges, which can vary widely between stores. Some charge a flat fee, while others calculate making charges as a percentage of gold value (typically 8% to 20%).
- Negotiate if possible, especially for bulk purchases.
Step 6: Collect Proper Invoice
Always insist on a detailed bill showing:
- Gold weight and purity
- Current gold price per gram
- Making charges and GST
- Hallmark certification details
A proper invoice ensures you have proof of purity and transparency in case you want to sell the gold later.
How to Check the Purity of Gold and Silver
1. Gold Purity Levels
Gold purity is measured in karats (K). Here’s a quick guide:
- 24K Gold: 99.9% pure (best for investment, but too soft for daily jewelry).
- 22K Gold: 91.6% pure (ideal for jewelry).
- 18K Gold: 75% pure (more durable, often used in modern designs).
BIS Hallmarking: Always look for:
- The BIS logo (triangle mark)
- Purity grade (e.g., 22K916)
- Year of marking
- Jeweler’s identification mark
2. Testing Gold Purity at Home
If you want to double-check the purity at home, you can:
- Use a Magnet: Real gold isn’t magnetic.
- Rub Test: Rub gold on a ceramic plate. If it leaves a golden streak, it’s likely genuine; black streaks could indicate impurities.
- Purity Testing Kits: Available online for home testing, though not 100% reliable.
3. Checking Silver Purity
Silver is usually measured in parts per thousand (ppt). The highest purity is:
- 999 Silver: 99.9% pure (used for coins and investment).
- 925 Silver (Sterling Silver): 92.5% pure (most common for jewelry).
Hallmarking for Silver: Similar to gold, silver items can also be hallmarked for purity.
4. Testing Silver Purity at Home
- Ice Test: Place an ice cube on silver; it should melt faster than on other metals due to silver’s high thermal conductivity.
- Ring Test: Tap silver with another metal; pure silver produces a high-pitched ringing sound.
- Nitric Acid Test: When nitric acid is applied, pure silver doesn’t change color, but fake silver turns green.
Important Tips for Buying Gold and Silver Safely
- Compare Prices Across Stores: Never settle for the first quote; compare rates.
- Watch for Hallmarks: Certified purity ensures safe resale value.
- Consider Buyback Policies: Some jewelers offer guaranteed buyback at market rates.
- Understand Making Charges: Higher making charges can significantly increase your purchase cost.
- Buy During Off-Season: Festival seasons see higher prices due to demand. Off-season purchases might save you some money.
Conclusion
Whether you’re buying for investment, gifting, or personal use, understanding where to buy, how to buy, and how to check purity is crucial. Following these steps ensures that your gold and silver purchases are safe, authentic, and provide the value you expect. With prices fluctuating daily, staying updated on today’s gold and silver prices and being aware of key factors influencing the market will always help you make smarter decisions.
FAQs
1. Is it better to buy gold from a jeweler or a bank?
Banks guarantee purity but do not offer buyback services. Reputed jewelers offer both purity and buyback, making them a better option for most buyers.
2. What is the safest way to invest in silver?
For investment, silver bars or digital silver from verified platforms are the safest options.
3. How do I verify if my gold is hallmarked?
Check for the BIS logo, purity grade, jeweler’s identification mark, and year of certification engraved on the gold item.
4. Are online gold purchases safe?
Yes, if purchased from reputed platforms with certified products and proper billing.
5. How often should I check gold and silver prices?
If you’re planning to invest, check prices daily to spot trends and make timely decisions.