On October 28, 2024, gold prices in India surpassed the ₹80,000 mark per 10 grams. The price of 24-carat gold, known for its highest purity, was set at ₹80,430, while 22-carat gold, favored for jewelry due to its durability from alloy composition, was priced at ₹73,740 per 10 grams.
In contrast, silver was trading at ₹97,900 per kilogram.
In various cities across India, the gold prices for today are as follows:
In Delhi, the 22-carat gold rate is ₹73,740, and 24-carat gold is ₹80,430.
Mumbai reports 22-carat gold at ₹73,150 and 24-carat at ₹79,800.
Ahmedabad sees 22-carat priced at ₹73,640 and 24-carat at ₹80,330.
Chennai lists 22-carat gold at ₹73,150 and 24-carat at ₹79,800.
Kolkata has both 22-carat and 24-carat gold at ₹73,150 and ₹79,800, respectively.
Pune also mirrors Kolkata’s prices.
Lucknow has 22-carat gold at ₹73,740 and 24-carat gold at ₹80,430.
Bengaluru shows 22-carat at ₹73,150 and 24-carat at ₹79,800.
Jaipur matches Lucknow’s prices.
Patna records 22-carat at ₹73,640 and 24-carat at ₹80,330.
Bhubaneswar lists both types at ₹73,150 and ₹79,800.
Hyderabad reflects the same prices as Bhubaneswar.
In July, gold and silver prices experienced a significant correction, falling by 7% in local markets due to a government decision to reduce the basic customs duty on gold and other metals. However, prices have since rebounded, driven by increased consumer demand linked to ongoing festivals, expectations of interest rate cuts in the US, and rising geopolitical tensions.
The retail price of gold in India, which represents the final cost for consumers, is influenced by various factors beyond market value, including import duties, taxes, and currency exchange rates.
Gold holds immense cultural significance in India, serving as a popular investment and playing a central role in weddings and festivals. As market dynamics shift, investors and traders are advised to stay informed about these trends for future updates.
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