Gold prices experienced a slight uptick on Wednesday, with 24-carat gold now priced at Rs. 7420.0 per gram (approximately $90.20), marking an increase of Rs. 701.0 (approximately $8.50). The price for 22-carat gold is Rs. 6796.8 per gram (approximately $82.65), up by Rs. 643.0 (approximately $7.80). Over the past week, 24-carat gold prices have risen by 0.96%, although there has been a 0.36% decrease over the past month.
Silver prices, however, saw a decrease, now costing Rs. 88930.0 per kilogram (approximately $1081.90), down by Rs. 1470.0 (approximately $17.90).
Gold and Silver Prices in Major Indian Cities
Delhi:
Gold: Today’s price is Rs. 74200.0 per 10 grams (approximately $901.65), up from Rs. 73948.0 per 10 grams (approximately $898.55) yesterday, but down from Rs. 74658.0 per 10 grams (approximately $907.05) last week.
Silver: Today’s price is Rs. 88930.0 per kilogram (approximately $1081.90), down from Rs. 92630.0 per kilogram (approximately $1127.35) yesterday and Rs. 94400.0 per kilogram (approximately $1148.00) last week.
Chennai:
Gold: Today’s price is Rs. 73408.0 per 10 grams (approximately $892.10), compared to Rs. 74454.0 per 10 grams (approximately $905.00) yesterday and Rs. 74368.0 per 10 grams (approximately $903.90) last week.
Silver: Today’s price is Rs. 89010.0 per kilogram (approximately $1082.95), down from Rs. 92730.0 per kilogram (approximately $1128.00) yesterday and Rs. 94210.0 per kilogram (approximately $1144.40) last week.
Mumbai:
Gold: Today’s price is Rs. 73192.0 per 10 grams (approximately $889.40), down from Rs. 73658.0 per 10 grams (approximately $895.30) yesterday and Rs. 73644.0 per 10 grams (approximately $895.15) last week.
Silver: Today’s price is Rs. 88930.0 per kilogram (approximately $1081.90), down from Rs. 92630.0 per kilogram (approximately $1127.35) yesterday and Rs. 94400.0 per kilogram (approximately $1148.00) last week.
Kolkata:
Gold: Today’s price is Rs. 73912.0 per 10 grams (approximately $897.60), compared to Rs. 74527.0 per 10 grams (approximately $904.60) yesterday and Rs. 74368.0 per 10 grams (approximately $903.90) last week.
Silver: Today’s price is Rs. 88930.0 per kilogram (approximately $1081.90), down from Rs. 92630.0 per kilogram (approximately $1127.35) yesterday and Rs. 94400.0 per kilogram (approximately $1148.00) last week.
Futures Trading Prices
Gold (October 2024 MCX futures): Trading at Rs. 72420.0 per 10 grams (approximately $880.10), up by 0.14%.
Silver (July 2024 MCX futures): Trading at Rs. 89700.0 per kilogram (approximately $1091.30), up by 0.046%.
Factors Influencing Price Fluctuations
Several factors contribute to the fluctuations in gold and silver prices. These include global demand, currency exchange rates, interest rates, and government regulations on the gold trade. Additionally, the overall health of the global economy and the strength of the US dollar against other currencies play significant roles in shaping the prices of gold and silver in the Indian market.
