As Chaitra Navratri kicks off, the bullion market in Varanasi, Uttar Pradesh, witnesses a surge in gold prices, setting new records. On April 11 (Thursday), the price of 22-carat gold soared by Rs 350 for every 10 grams, while silver also witnessed a significant hike of Rs 1000 per kilogram, reaching Rs 85500. The fluctuations in gold and silver prices are attributed to various factors, including taxes and excise duties.

In the Varanasi bullion market, the price of 22-carat gold for 10 grams rose to Rs 66250 on April 11, marking a notable increase from Rs 65900 on April 10. This surge continues a trend of incremental rises, with prices hitting Rs 65800 on April 9, Rs 65500 on April 8, and Rs 64300 on April 7. The upward trajectory in gold prices has persisted since April 6, when it stood at Rs 64750, and April 5, when it reached Rs 64250.

The price of 24-carat gold also witnessed a significant uptick on Thursday, with a rise of Rs 380 for every 10 grams, reaching Rs 71600. Bullion traders in Varanasi attribute this continuous surge in gold prices throughout April to various market dynamics.

In addition to gold, the price of silver experienced a sharp increase on Thursday, climbing by Rs 1000 per kilogram to Rs 85500. This surge contrasts with the Rs 84500 price on April 10, maintaining the upward trend seen since April 7, when it stood at Rs 81700, and April 5, when it reached Rs 82000. This consistent rise in silver prices reflects the prevailing market sentiments and demand dynamics.

The bullion market in Varanasi remains dynamic, with gold and silver prices subject to fluctuation influenced by a multitude of factors. Investors and traders keenly observe these trends as they navigate the intricate dynamics of the precious metals market.