Gold, silver rates on May 16: Prices remain steady in major cities. Details - Hindustan Times
close_game
close_game

Gold, silver rates on May 16: Prices remain steady in major cities. Check details

May 16, 2023 07:40 AM IST

The price of 24-carat gold per gram in India today is ₹6,180, while 10 gram of Silver was priced at ₹784.

The price of gold remained unchanged Tuesday. For every gram of 22 carat gold, the price stood at 5,665, with no fluctuation observed. This means that eight grams of 22 carat gold were priced at 45,320, while ten grams were valued at 56,650. Likewise, no change in the price was observed for 24 carat gold either, signifying a steady market.

A saleswoman shows gold bangles to a customer at a jewellery showroom in Kolkata, India.(REUTERS/ File)
A saleswoman shows gold bangles to a customer at a jewellery showroom in Kolkata, India.(REUTERS/ File)

Goodreturns website showed that the price of 24-carat gold per gram in India today is 6,180. This meant the cost of 10 grams is priced at 61,800.

Hindustan Times - your fastest source for breaking news! Read now.

Similarly, silver prices also did not change in most of the major metropolitan cities as the latest rate for 10 gram of the metal stood at 748, same as yesterday. However, minor fluctuations were seen for some cities including Bengaluru.

Also Read: 5 things to consider when choosing the best gold loan provider

The precious metal gold is considered a hedge against inflation.

A look at rates gold and silver rates in major Indian cities:

CityGold (10 grams of 24 carat)Silver (10 grams)
Chennai 62,350 785
Mumbai 61,800 748
Delhi 61,950 748
Kolkata 61,800 748
Bengaluru 61,850 785
Hyderabad 61,800 785
Lucknow 61,950 748
Patna 61,850 748

The ease in gold rates in Asian market followed as as traders assessed comments from the U.S. central bank officials on interest rates staying high, while market focus was also on developments in the debt-ceiling debate, Reuters reported.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Trainee Content Producer at HT Digital. I read about feminism, late modern history, and globalisation of Korean music.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On