If you’re considering purchasing gold jewelry, today brings excellent news. Gold prices have witnessed a significant drop, with rates falling by Rs 300 to Rs 500 per ten grams. In major cities, 24-carat gold is now trading below Rs 59,500 per ten grams, while one kilogram of silver is priced at Rs 73,500, reflecting a Rs 500 decrease.
Gold Rates in Key Cities
Delhi: 22-carat gold is priced at Rs 54,600 per 10 grams, while 24-carat gold costs Rs 59,500 per 10 grams.
Ahmedabad, Gujarat: The retail price for 22-carat gold is Rs 54,550, and 24-carat gold is available at Rs 59,500 per 10 grams.
Chennai: In Chennai, 22-carat gold is priced at Rs 54,800 per 10 grams, while 24-carat gold costs Rs 59,780 per 10 grams.
Other major cities like Mumbai, Gurugram, Kolkata, Lucknow, Bangalore, Jaipur, Patna, Bhubaneswar, and Hyderabad are also witnessing a decrease in both 22-carat and 24-carat gold prices.
The fluctuation in gold prices is primarily driven by market dynamics, including supply and demand. When demand for gold increases, prices tend to rise, while an oversupply can lead to price drops. Additionally, global economic conditions play a significant role, with investors often turning to gold as a safe-haven asset during economic uncertainty, which can boost gold prices.