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Gold Price Today: Yellow Metal Prices Surge – 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

Gold Price Today: Yellow metal buyers have to spend more as gold prices surges, with 10 grams of 24-carat gold witnessing a surge on Wednesday. Additionally, the popular choice for jewelers, 22-carat gold, prized for its durability, was priced at Rs 71,000 for 10 grams.

The price of 24-carat gold on Wednesday surged, with 10 grams of it selling at Rs 77,450, according to Good Returns. Silver prices witnessed a surge as well, with the metal’s price now standing at Rs 91,500 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 71,150Rs 77,600Rs 91,500
NoidaRs 71,150Rs 77,600Rs 91,500
LucknowRs 71,150Rs 77,600Rs 91,500
MumbaiRs 71,000Rs 77,450Rs 91,500
BengaluruRs 71,000Rs 77,450Rs 91,500
ChennaiRs 71,000Rs 77,450Rs 99,000
PuneRs 71,000Rs 77,450Rs 91,500
AhmedabadRs 71,050Rs 77,500Rs 91,500
KolkataRs 71,000Rs 77,450Rs 91,500
HyderabadRs 71,000Rs 77,450Rs 99,000

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.

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HISTORY

Written By

Akshat Mittal


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