Golf prices marginally dropped on Wednesday with 10 grams of 22 carat gold priced at ₹55,850, a decrease of ₹90 from previous day’s figures, Goodreturns website reported. This means, 100 grams of 22 carat gold would be sold at ₹5,58,500 today.
Meanwhile, 10 grams of 24 carat gold was set at ₹ ₹60,920, the data showed. This is a decline of ₹110 compared to yesterday's figures. There are two types of gold traded in India, i.e, 24K and 22K. Accordingly, in Delhi, 22 carat gold is priced at ₹56,000 today while, 24 carat at ₹61,070.
Silver prices also declined slightly with 10 grams of the metal valued at ₹774, a ₹11 decrease from yesterday. Delhi, Mumbai, Kolkata had the metal priced at this rate, while in Chennai, Hyderabad, Bengaluru it was costlier at ₹805.
Latest gold, silver rates in major cities today:
| CITIES | Gold (24 carat per 10 grams) | Silver (per 10 grams) |
| Chennai | ₹61,600 | ₹805 |
| Mumbai | ₹60,920 | ₹774 |
| Delhi | ₹ ₹61,070 | ₹774 |
| Kolkata | ₹60,920 | ₹744 |
| Bengaluru | ₹60,970 | ₹805 |
"Gold demand in the domestic market is likely to improve after recent correction in prices and ahead of Akshaya Tritiya which is considered as an auspicious occasion for buying gold," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities told news agency PTI.
The precious metal is considered a hedge against inflation and economic uncertainties. Its prices are sourced from reputed jewellers, they are affected by factors including global demand, currency, interest rates.
{{/usCountry}}The precious metal is considered a hedge against inflation and economic uncertainties. Its prices are sourced from reputed jewellers, they are affected by factors including global demand, currency, interest rates.
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