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Gold Price Today: Hurray! Yellow Metal Prices Fall – Check Rates In Mumbai, Chennai, Bengaluru & More

Contrary to popular belief, gold prices in India aren't solely driven by physical gold demand and supply. Instead, they're significantly influenced by trading activities on major global markets, including the London OTC spot market and the COMEX gold futures market.

Gold Price Today: Good news for yellow metal buyers as gold prices plunge as the peak wedding season nearing its end, with 10 grams of 24-carat gold witnessing a drop on Friday. Additionally, the popular choice for jewelers, 22-carat gold, prized for its durability, was priced at Rs 70,690 for 10 grams.

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The price of 24-carat gold on Friday fell, with 10 grams of it selling at Rs 77,120, according to Good Returns. Silver prices witnessed a declined as well, with the metal’s price now standing at Rs 91,400 per kilogram, according to Good Returns.

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Gold Price Today: Major Cities

City

Gold Price (22-Carat/10 gm)Gold Price (24-Carat/10 gm)Silver Price (Rs/kg)
DelhiRs 70,840Rs 77,270Rs 91,400
NoidaRs 70,840Rs 77,270Rs 91,400
LucknowRs 70,840Rs 77,270Rs 91,400
MumbaiRs 70,690Rs 77,120Rs 91,400
BengaluruRs 70,690Rs 77,120Rs 91,400
ChennaiRs 70,690Rs 77,120Rs 98,900
PuneRs 70,690Rs 77,120Rs 91,400
AhmedabadRs 70,740Rs 77,170Rs 91,400
KolkataRs 70,690Rs 77,120Rs 91,400
HyderabadRs 70,690Rs 77,120Rs 98,900

Source: Good Returns

How Gold Prices In India Are Determined?

Contrary to popular belief, gold prices in India aren’t solely driven by physical gold demand and supply. Instead, they’re significantly influenced by trading activities on major global markets, including the London OTC spot market and the COMEX gold futures market.

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Furthermore, other factors like global events, political issues, central bank decisions, and currency changes can also fuel the change in the prices of the precious metal.

How To Check The Purity Of Gold

Here are a few tips to check the purity of the gold:

1. Look for a hallmark: The best way is to look for the hallmark. 22-carat gold, also known as 916 gold, will have a hallmark stamp on its back of 916.

2. Check for the BIS Standard Mark: On all the jewelry, you can look for a triangle with the letters “BIS” underneath to ensure the purity of the gold.

3. Perform an acid test: An acid test can be performed under guidance, where you can test the gold with nitric acid to check its purity.

4. Color test: The yellow metal stays yellow always, it remains untarnished.

ALSO READ: FM Says Rs 14,000 Crore Repaid To Banks From Vijay Mallya’s Assets Sale – Check His Reaction

First published on: Dec 20, 2024 07:21 AM IST


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