Gold and silver prices on July 22: Check latest rates in your city today

Gold prices today: Gold prices are determined by various factors including currency exchange rates, global demands, interest rates and government policies.

Published on: Jul 22, 2023, 10:14:05 IST

By HT News Desk

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Gold prices decreased by ₹25 on Saturday, July 22. According to Goodreturns, the website which tracks the price of this metal, one gram of 22K gold costs ₹5,515 while one gram of 24K gold is priced at ₹6,016.

The term ‘K’ or carat is used to determine the purity of gold. A 24K gold is called pure gold and it has 99.9 per cent purity. It is liquid in the state and cannot be moulded to make bars, jewellery etc. On the other hand, 22K gold has traces of other metals like copper and zinc.

Here are gold prices for major cities on July 22, 2023.

CITY	22K GOLD PRICE (Rs/10 GMS)	24K GOLD PRICE (Rs/10 GMS)
DELHI	55,550	60,590
MUMBAI	55,150	60,160
KOLKATA	55,150	60,160
CHENNAI	55,700	60,760
BENGALURU	55,150	60,160

Gold prices are determined by various factors including currency exchange rates, global demands, interest rates and government policies. If the rupee slides against US dollar, the price of gold will increase.

Gold is traded in the form of bars, coins, bullions, jewellery, exchanges, ETFs etc. It is considered a safe and reliable mode of investment, acting as a hedge against inflation.

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms, the country imports 800-900 tonne of gold annually.

Silver price

The price of silver in India decreased by just Re 1, according to website Goodreturns. One gram of silver costs ₹78 on Saturday, July 22. In Delhi, Mumbai and Kolkata, 10 grams of silver were sold at ₹780. In Chennai and Hyderabad, the price of same amount of silver was ₹805.

Silver is considered cheaper than gold. It is always in higher demand than gold among jewellers and industrial firms because its usage is not just limited to jewellery items.

In India, the price of silver is determined by various factors including gold rates. If the gold prices go up, the rates of silver will also increase.

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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