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Gold and silver prices on May 3: Check latest rates in your city

The term ‘K’ or karats is used to determine the purity of gold. A 24K gold is called pure gold with a purity of 99.9 per cent purity.

Updated on: May 03, 2023 12:28 PM IST
By HT News Desk
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Gold prices on Wednesday rose by ₹80 per gram, a data by Goodreturns website stated. According to the website, one gram of 22K gold costs ₹5,650. On the other hand, the price of 24K of gold increased by ₹88 to ₹6,164.

If you are confused about what 22K and 24K gold mean, let us explain. The term ‘K’ or karats is used to determine the purity of gold. A 24K gold is called pure gold with a purity of 99.9 per cent purity. It does not contain other traces of metals.

In India, gold rates are dependent on factors including government policies, currency, interest rates and global demand
In India, gold rates are dependent on factors including government policies, currency, interest rates and global demand

A 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.

Here are the gold prices for top 5 Indian cities on May 3, 2023.

CITY22K GOLD PRICE (Rs/10 GM)24K GOLD PRICE (Rs/10 GM)
DELHI56,65061,790
MUMBAI56,50061,640
KOLKATA56,50061,640
CHENNAI57,06062,240
BENGALURU56,55061,690
View All

In India, gold rates are dependent on factors including government policies, currency, interest rates and global demand. In case, the value of rupee depreciates against US dollar, the gold will become expensive.

 
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.

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