Gold prices saw a slight fall on Saturday, December 20.
In Mumbai, 24-carat gold was priced at ₹1,34,170 per 10 grams, while 22-carat gold was selling at ₹1,22,990 per 10 grams.
These prices do not include GST or making charges.
Silver prices remained high, with spot silver trading at ₹2,08,990 per kg.
Today’s Gold Rates in Major Indian Cities
Gold prices were largely similar across most cities.
Here’s a quick look at the rates per 10 grams:
Delhi & Jaipur:
22K gold at ₹1,23,140 | 24K gold at ₹1,34,320
Ahmedabad:
22K gold at ₹1,23,040 | 24K gold at ₹1,34,220
Mumbai, Pune, Chennai, Hyderabad, Bengaluru & Kolkata:
22K gold at ₹1,22,990 | 24K gold at ₹1,34,170
Prices may vary slightly depending on local taxes and jeweller charges.
Why Has Gold Demand in India Fallen?
Gold exports from Switzerland dropped by 15 percent in November, mainly due to weak demand from India.
Shipments to India fell sharply to just 2 metric tonnes, compared to 26 tonnes in October.
One major reason is the sharp rise in gold prices. Gold touched a record high of $4,381 per troy ounce in October.
So far this year, spot gold prices have risen by 65 percent, marking the biggest annual jump in over four decades.
Meanwhile, gold exports to China increased, showing stronger demand there compared to India.
What Drives Gold Prices in India?
Several factors influence gold prices in India.
These include international gold rates, import duties, taxes, and changes in currency exchange rates.
Gold also holds strong cultural and financial importance in India.
It is widely bought for weddings, festivals, and long-term investment.
Due to frequent price changes, investors and buyers closely track daily movements.
Staying informed helps in making better buying or investment decisions.
