Gold price update: Prices of yellow metal see a decline in India; check 22 Carat rate in your city
Gold price update: On June 15, the price of 10 grams of gold in India was approximately Rs 71,000. Pure 24-carat gold was valued at Rs 71,880 per 10 grams, while 22-carat gold was priced at Rs 65,890 per 10 grams. Concurrently, the price of silver declined to Rs 90,400 per kg.
Key Observations
Chennai has the highest gold prices, with 22-carat gold at Rs 66,490 and 24-carat gold at Rs 72,540.
Mumbai, Kolkata, Bengaluru, Bhubaneshwar, and Hyderabad share the lowest gold prices for both 22-carat and 24-carat gold at Rs 65,890 and Rs 71,880, respectively.
Delhi, Gurugram, Lucknow, and Jaipur have identical gold prices, with 22-carat gold at Rs 66,040 and 24-carat gold at Rs 72,030.
Ahmedabad and Patna have similar pricing, with minor differences of Rs 50 between them for both 22-carat and 24-carat gold.
Factors Influencing Gold Prices
India's reliance on imported gold largely influences domestic prices, which closely mirror global trends. Additionally, the cultural importance of gold in India, particularly during festivals and weddings, can impact demand levels. The retail price of gold, representing the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value. Gold carries significant cultural importance in India, acting as a major investment and playing a crucial role in traditional weddings and festivals.
- With inputs from agencies
