Gold and silver prices saw a moderate uptick today in Lucknow’s bullion market, with traders and customers responding to both international trends and local festive demand. According to the local Sarafa Association, rates for precious metals remain volatile as global markets react sharply to movements in the dollar and uncertainties in the global economy.
Latest figures show that 24-carat gold reached ₹1,25,000 per 10 grams, while 22-carat gold rose to ₹1,15,200 per 10 grams. The 18-carat rate stood at ₹95,100 per 10 grams. These prices apply to pure gold and do not include GST, making charges, or hallmarking fees, which buyers must pay separately. Silver prices also climbed, with jewelry-grade silver hitting ₹1,54,000 per kilogram—reflecting volatility in international trading and a recent global upswing.
Traders in Lucknow’s prime markets report that demand has intensified ahead of Diwali, Dhanteras, and the upcoming wedding season. Sarafa merchant Vinod Maheshwari cautioned buyers to check current rates before making purchases, as prices remain unpredictable and sensitive to international currency and commodity shifts. “Both bullish and bearish trends can be seen, so every customer should verify the latest rates before buying gold or silver,” he advised.
The festive rush is noticeable across Lucknow’s key jewellery hubs such as Chowk, Aminabad, Alambagh, and Hazratganj, where customers are queuing up for both investment and traditional purchases. While some people invest in gold as a safe-haven asset, many others continue the tradition of buying gold and silver coins or ornaments for prosperity on Dhanteras.
Despite the ongoing price volatility, both retailers and buyers remain optimistic, though smaller investors are treading carefully given the rapid fluctuations witnessed in recent days.