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Gold Price: Good News! Rates Drop – Check Prices In Delhi, Chennai, Mumbai, Bengaluru & Others

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: Good news for yellow metal buyers as Gold price drop, with 24-carat gold witnessing a decline on Monday. Additionally, the popular choice for jewelers, 22-carat gold, prized for its durability, was priced at Rs 77,440 for 10 grams.

The price of 24-carat gold dropped on Monday, with 10 grams of it selling at Rs 84,480, according to Good Returns. Silver prices fallen as well and are now standing at Rs 99,400 per kilogram, according to Good Returns.

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Gold Price: Major Cities

City

Gold Price (22-Carat/10 gm)Gold Price (24-Carat/10 gm)Silver Price (Rs/kg)
DelhiRs 77,590Rs 84,630Rs 99,400
NoidaRs 77,590Rs 84,630Rs 99,400
LucknowRs 77,590Rs 84,630Rs 99,400
MumbaiRs 77,440Rs 84,480Rs 99,400
BengaluruRs 77,440Rs 84,480Rs 99,400
ChennaiRs 77,440Rs 84,480Rs 1,06,900
PuneRs 77,440Rs 84,480Rs 99,400
AhmedabadRs 77,490Rs 84,530Rs 99,400
KolkataRs 77,440Rs 84,480Rs 99,400
HyderabadRs 77,440Rs 84,480Rs 1,06,900

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: Budget 2025: Beyond Tax Cuts, 10 Key Announcements By Nirmala Sitharaman That Impact Common Man

HISTORY

Written By

Akshat Mittal


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