Wednesday, 19 June 2024
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Commodity

Prices for gold and silver remained unchanged today

  • The price per gram of 22-carat and 24-carat gold in Delhi was Rs 54,15 and Rs 59,06.
  • Ten grams of 22-carat and 24-carat gold cost Rs 54,050 and Rs 58,960 in Bhopal.
  • Silver futures were priced higher at Rs 69,496 for the same maturity date.

Friday saw relatively little change in the spot price of gold in India. The price per gram of 22-carat and 24-carat gold in Delhi was Rs 5,415 and Rs 5,906, respectively. Gold weighing 22 carats and 24 carats cost Rs 54,000 and Rs 58,910 per 10 grams in Mumbai. At Rs 72,600 per kilogram, silver prices likewise did not move.

According to Goodreturns, the prices for 22-carat and 24-carat gold in Kolkata and Hyderabad, respectively, were Rs 54,000 and Rs 58,910 per 10 grams. The price per 10 grams of 22-carat gold was Rs 54,100 in Chennai, while the price per 10 grams of 24-carat gold was Rs 59,000.

Gold and silver

Ten grams of 22-carat and 24-carat gold cost Rs 54,050 and Rs 58,960 in Bhopal, respectively. The price of ten grams of 22-carat and 24-carat gold in Thiruvananthapuram was Rs 54,000 and Rs 58,910 per gram.

The Multi Commodity Exchange saw greater trades of gold futures contracts expiring on December 5, 2023, at Rs 58,045 in the futures market. Silver futures, on the other hand, were priced higher at Rs 69,496 for the same maturity date.

A few examples of these elements are the value of the Rupee, labor, and material costs, and the global gold price. Supply and demand both affect price; a rise in demand will result in a higher price, while a decrease in supply will result in a lower price.

The state of the world economy affects gold prices as well since investors look to gold as a haven during uncertain times. Gold prices can also be impacted by political unrest since investors may buy the metal to protect themselves from uncertainty.

Gold is a typical wedding and festival item in India, and it has great cultural significance as well as investment potential. Demand for gold may surge during times of political unrest or catastrophe, driving up the price of the metal. In general, the value of gold is determined by its importance in the Indian economy.

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