This week saw a rise in gold and silver prices. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold was ₹84,699 on February 8, which has now climbed to ₹85,998 as of February 15—an increase of ₹1,299 in just one week. Similarly, silver prices have surged by ₹2,562 this week, reaching ₹97,953 per kilogram, up from ₹95,391 per kilogram last Saturday. Gold Prices Up by ₹9,836 Since January 1 Since the beginning of the year, gold prices have seen a significant jump. On January 1, 2024, the price of 10 grams of 24-carat gold was ₹76,162. It has since risen by ₹9,836 to reach ₹85,998. Silver prices have also increased substantially, rising from ₹86,017 per kilogram to ₹97,953, marking an ₹11,936 increase. Current Gold Prices in Major Cities 4 Reasons Behind the Gold Price Surge Gold and Silver Performance in 2024 In 2024, gold prices surged by 20.22%, while silver saw a 17.19% rise. On January 1, 2024, gold was priced at ₹63,352 per 10 grams, reaching ₹76,162 per 10 grams by December 31, 2024. During the same period, silver prices increased from ₹73,395 per kilogram to ₹86,017 per kilogram. Will Gold Reach ₹90,000 This Year? Ajay Kedia, Director of Kedia Advisory, believes that despite recent fluctuations, gold prices may continue to rise. With the US and UK cutting interest rates and geopolitical tensions escalating, demand for gold remains strong. Increasing investments in Gold ETFs are also driving demand. Based on these factors, Kedia predicts that gold prices could reach ₹90,000 per 10 grams by the end of 2024.Original Article