Gold and silver prices on April 7: Check rates in your city today

In India, gold prices are determined on several factors including global demand, interest rates, currency and government policies.

Published on: Apr 7, 2023, 10:28:27 IST

By HT News Desk

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The gold rates witnessed a slight decrease by ₹35 from Thursday. According to the Goodreturns website, the price of 22 carat gold stood at ₹5,590 per gram. In India, gold prices are determined on several factors including global demand, interest rates, currency and government policies. It is also dependent on demand for the precious metal. If the demand for gold is not robust, the rates will slide.

Here are the gold rates for prominent cities on Friday, April 7, 2023.

Gold Trades in a Tight Range as Investors Gear Up

CITY	22K GOLD (Rs/10 GM)	24K GOLD (Rs/10 GM)
DELHI	56,050	61,130
MUMBAI	55,900	60,980
KOLKATA	55,900	60,980
CHENNAI	56,500	61,640
BENGALURU	55,950	61,030

In case you are confused about ‘K’ in gold prices, it is basically carat. It is a term used to measure the purity of gold. A 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc. It is harder than 24K gold due to presence of other metals. It is suited for making jewellery.

Silver price

The rate of silver almost remained unchanged on Friday. According to Goodreturns website, a gram of silver costs ₹76.49 today.

In India, the price of silver is decided by factors including industrial demand, gold rates, bulk purchases etc. In case the price of gold increases, the rate of silver will also increase.

Here are the latest rates of silver across multiple cities on Friday April 7, 2023.

CITY	10 GMS SILVER (Rs)	100 GMS SILVER (Rs)
DELHI, MUMBAI, KOLKATA	764.90	7,649
CHENNAI, BENGALURU, HYDERABAD	800	8,000
PUNE, VADODARA, AHMEDABAD	764.90	7,649
COIMBATORE, MADURAI	800	8,000
PATNA, NAGPUR	764.90	7,649

Silver can be purchased from banks, jewellers and online agents in India. The banks charge higher rates due to purity checks and assurance provided by them.

ABOUT THE AUTHOR
HT News Desk
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