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Gold Price Today: Good News! Yellow Metal Prices Drop – Check Rates In Mumbai, Delhi, Chennai & 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 Today: Good news for yellow metal buyers as gold prices witnesses a drop, with 10 grams of 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 72,990 for 10 grams.

The price of 24-carat gold on Monday declined as well, with 10 grams of it selling at Rs 79,630, according to Good Returns. Silver prices too witnessed a decline, with the metal’s price now standing at Rs 93,400 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 73,140Rs 79,790Rs 1,00,900
NoidaRs 73,140Rs 79,790Rs 93,400
LucknowRs 73,140Rs 79,790Rs 93,400
MumbaiRs 72,990Rs 79,630Rs 93,400
BengaluruRs 72,990Rs 79,630Rs 93,400
ChennaiRs 72,990Rs 79,630Rs 1,00,900
PuneRs 72,990Rs 79,630Rs 93,400
AhmedabadRs 73,040Rs 79,690Rs 93,400
KolkataRs 72,990Rs 79,630Rs 93,400
HyderabadRs 72,990Rs 79,630Rs 1,00,100

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: India’s Industrial Production Growth Increases By 5.2% In November 2024

HISTORY

Written By

Akshat Mittal


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