Gold and silver prices on October 8: Check latest rates in your city today

‘K’ or carat is a term used to measure the purity of gold. A 24K gold is called pure gold as it is in liquid form and has purity of 99.9 per cent

Published on: Oct 8, 2023, 10:17:11 IST

By HT News Desk

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Gold prices increased by ₹25 on Sunday. According to website Goodreturns, the price of 22K and 24K gold stood at ₹5,275 per gram and ₹5,754 per gram respectively.

‘K’ or carat is a term used to measure the purity of gold. A 24K gold is called pure gold as it is in liquid form and has purity of 99.9 per cent. It does not contain traces of other metals. A 22K gold contains traces of other metals like copper and zinc.

Here are the gold prices for major Indian cities on October 8, 2023.

Gold prices recently reached a three-week high in the international market.

CITIES	22K GOLD PRICE (Rs/10 GMS)	24K GOLD PRICE (Rs/10 GMS)
DELHI	52,900	57,690
MUMBAI	52,750	57,540
CHENNAI	53,700	58,580
KOLKATA	52,750	57,540
BENGALURU	52,750	57,540

How are gold prices determined?

Gold prices in India are determined on numerous factors including currency, global demand, interest rates and government policies. 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 is the demand for the precious metal. If the demand for gold is not robust, the prices will fall.

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

The price of silver increased by ₹1.50 on Sunday. According to the website Goodreturns, one gram of silver costs ₹72.10. In Delhi, Mumbai and Kolkata, the price of 10 grams of silver stood at ₹721. On the other hand, silver in Bengaluru and Chennai stood at ₹688 per 10 grams and ₹750 per 10 grams.

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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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