Gold prices witnessed a minor decline in some cities on July 26, 2023. Despite this, the price of 10 grams of 24 carat gold remains above Rs.60,000 in 12 major cities across India. For instance, in Delhi, the rate for 24 carat gold stands at Rs.60,320, while the rate for 22 carat gold is Rs.55,300. In Chennai, 24 carat gold is priced at Rs.60,380 per 10 grams. Notably, the prices in most cities remain unchanged from the previous day. However, it’s essential for investors to make decisions based on the fundamental and financial aspects of gold rather than the signals from the market.
Minor Decline in Gold Prices on July 26, 2023
In Noida, Agra, Bhopal, Patna, and Ahmedabad, the retail prices for 22 carat gold are Rs.55,300 per 10 grams, while 24 carat gold is priced at Rs.60,220. Chennai sees 22 carat gold priced at Rs.55,350, and 24 carat gold is available at Rs.60,380 per 10 grams.
24 Carat Gold Remains Above Rs.60,000 in 12 Major Indian Cities
Gold prices are influenced by factors like demand, supply, and global economic conditions. A higher demand leads to increased rates, while an increased supply may result in decreased prices. Additionally, during economic downturns, investors tend to consider gold as a safe investment, leading to higher gold prices.
