Gold prices remain unchanged on December 31, silver rates rise by 30 paise

Gold prices today: In Mumbai, 10 grammes of 24K gold cost ₹63,870. In Kolkata, the price of 24K gold was the same as in the maximum city.

Published on: Dec 31, 2023, 08:51:45 IST

By HT News Desk

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Gold prices remained unchanged on the last day of 2023. According to the website Goodreturns, one gramme of 24K and 22K gold cost ₹5,855 and ₹6,387 respectively.

In Delhi, 22K gold cost ₹58,700 per 10 grammes while the price of 24K gold stood at ₹63,970 per 10 grammes. In the national capital, gold prices are dependent on factors including market price, cost of production, supply and demand, economic conditions and currency values.

In India's financial capital Mumbai, 10 grammes of 24K gold cost ₹63,870. In Kolkata, the price of 24K gold was the same as in the maximum city.

‘K’ or carat is used to measure the purity of gold. A 24K gold is considered to be pure gold, liquid in form and not having any trace of other metals (HT File Photo)

‘K’ or carat is used to measure the purity of gold. A 24K gold is considered to be pure gold, liquid in form and not having any trace of other metals. The 22K gold is used to make jewellery and it contains traces of copper and zinc.

Here are the gold rates of other major cities on December 31, 2023.

CITY	22K GOLD PRICE (Rs/10 GMS)	24K GOLD PRICE (Rs/10 GMS)
MUMBAI	58,550	63,870
KOLKATA	58,550	63,870
CHENNAI	59,100	64,470
BENGALURU	58,550	63,870
HYDERABAD	58,550	63,870

How are gold prices determined in India?

Gold prices in India are dependent on factors including currency, global demand, interest rates and government policies. In case the Indian rupee slides against the US dollar in India, gold will become expensive.

The gold price also depends on on international factors like global economic growth, dollar strength against other currencies etc. Another important factor is the demand for gold. If the demand for this precious metal is not robust, the prices will fall.

Silver prices

The price of silver increased by 30 paise on the last day of 2023. One gramme of silver cost ₹78.60. Silver is always available in the market due to its high demand.

Here are the prices of silver in major Indian cities on December 31, 2023.

CITY	SILVER PRICE (Rs/10 GMS)
DELHI	786
MUMBAI	786
KOLKATA	786
CHENNAI	800
BENGALURU	760

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

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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