Gold and silver price on August 27: Check latest rates in your city today

Gold prices are dependent on various factors including currency, rupee against dollars and global situation among others.

Updated on: Aug 27, 2023, 16:29:54 IST

By HT News Desk

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Gold and silver prices remained unchanged on Sunday. According to website Goodreturns, one gram of 22 carats gold was being sold at ₹5,450 while 24 carats of gold was being sold at ₹5,945.

‘Carats’ or K is a term used to measure the purity of gold. A 24K gold is called pure gold and has 99.9 per cent purity. It is in liquid form and does not contain traces of other metals. On the other hand, 22K gold has traces of metals like copper and zinc and is used to make jewellery.

Here are the gold prices of major cities on August 27. 2023.

‘Carats’ or K is a term used to measure the purity of gold. A 24K gold is called pure gold and has 99.9 per cent purity

CITY	22K GOLD (Rs/10 GMS)	24K GOLD (Rs/10 GMS)
DELHI	54,650	59,600
MUMBAI	54,500	59,450
KOLKATA	54,500	59,450
CHENNAI	54,800	59,780
BENGALURU	54,500	59,450

Gold prices are dependent on various factors including currency, rupee against dollars and global situation among others. If the rupee slides against the US dollar in India, gold will become expensive.

The price of gold is also dependent on international factors like global economic growth, dollar strength against other currencies etc.

Another important factor determining gold prices is demand for the precious metal. If gold is in high demand, the prices will increase.

Gold os considered to be a reliable form of investment and is a perfect hedge against inflation. It is traded in form of bars, coins, bullions, jewellery, trade funds etc.

The gold prices in Indian cities depend on various factors like demand, state taxes, octroi charges, interest levied, bullion associations, transportation costs etc.

Silver prices

Silver is always in demand in India's jewellery markets. Because of huge demand, the availability of this metal is dropping. It is expected that the price of silver will increase in the future.

Here are the silver prices for major Indian cities on August 27, 2023.

CITY	SILVER PRICE (Rs/10 GMS)
DELHI	769
MUMBAI	769
KOLKATA	769
CHENNAI	800
BENGALURU	755

The price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc.

If the price of gold increases, the silver price will also increase. The industrial firms use silver for production of various commodities like jewellery, coins, medals etc.Also, it is easier to influence the silver market through large trades and purchases.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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