Today, gold prices have witnessed a notable increase in 12 cities across India. In South India, gold is trading at Rs 60,000 per 10 grams, whereas in North India, prices are slightly lower, falling below the Rs 60,000 mark. This hike translates to an increase of Rs 200 to Rs 300 for 10 grams of gold. Simultaneously, the rate for one kilogram of silver stands at Rs 74,000, marking a Rs 500 increase in silver prices.
Let’s take a look at the gold rates in some major cities
Gold Rate in Delhi:
- 22 carat gold: Rs 54,850 per 10 grams
- 24 carat gold: Rs 59,820 per 10 grams
Gold Rate in Ahmedabad:
- 22 carat gold: Rs 54,750 per 10 grams
- 24 carat gold: Rs 59,720 per 10 grams
Gold Rate in Chennai:
- 22 carat gold: Rs 55,000 per 10 grams
- 24 carat gold: Rs 60,000 per 10 grams
The gold rate variations in different cities are influenced primarily by the demand and supply dynamics within the market. Increased demand tends to drive prices up, while a surge in the supply of gold usually results in a price decrease. Additionally, global economic conditions play a vital role in determining gold prices. In times of economic uncertainty, gold is sought after as a safe-haven investment, causing an uptick in its price.
In other financial news, the Cellecor Gadgets IPO has opened, generating strong signals from the gray market, signaling an upbeat trend for SME IPOs.