New Delhi : If you’ve been considering purchasing gold jewelry, today brings promising news.
Gold prices have witnessed a substantial reduction, dropping by Rs 300 to Rs 500 per 10 grams.
In prominent cities across the nation, the price of 24 carat gold is now trading below the Rs 59,500 mark. Furthermore, silver prices have also experienced a decline, with a Rs 500 drop.
Gold Rates in Delhi:
The price for 22 carat gold in Delhi stands at Rs 54,600 per 10 grams. Customers interested in 24 carat gold will need to pay Rs 59,500 per 10 grams.
Gold Rates in Ahmedabad:
In Ahmedabad, Gujarat, the retail price for 22 carat gold is Rs 54,550 per 10 grams. Meanwhile, 24 carat gold in the same city is priced at Rs 59,500 per 10 grams.
Gold Rates in Chennai:
Chennai, the capital of Tamil Nadu, reports a rate of Rs 54,800 per 10 grams for 22 carat gold.
The price for 24 carat gold in Chennai is recorded at Rs 59,780 per 10 grams.
Gold Rates in Major Cities:
Below are the latest rates in major cities:
|City||Price of 22 Carat (10g)||Price of 24 Carat (10g)|
Factors Influencing Gold Prices:
Gold prices are primarily determined by the interplay of supply and demand in the market. An increase in demand generally leads to higher prices, while a surplus in supply can result in declines.
Additionally, global economic conditions play a pivotal role in influencing gold prices. During periods of economic instability, gold often serves as a safe haven investment, causing its price to rise.
Therefore, the price reduction observed today may be attributed to changes in these significant factors affecting the gold market.