New Delhi: Gold price today in India (22 carat) increased to Rs 70,010 per 10 gram (gm) as quoted by “Good Returns .” While, 24 carat gold price today was quoted at Rs 76,370 per 10 gm. As far as 18 carat gold is concerned, its prices traded at Rs 57,280 per 10 gm. Silver price today traded in negative territory down Rs 100 per kg to Rs 92,800 per kg.
MCX Gold & Silver Rate
Albeit in futures trade, silver contracts were buoyant on Tuesday. While, gold contracts for October delivery was up at Rs 75,049 per 10 gm on the Multi Commodity Exchange (MCX). Silver contracts for December delivery was 0.18% and traded at Rs 92,560 per 1 kg.
Gold and Silver Prices today in different cities in India:
| City | Gold Price (22 carat in Rs/gm) | Silver Price (Rs/kg) |
| Delhi | 70,160 | 92,900 |
| Mumbai | 70,010 | 92,800 |
| Bengaluru | 70,010 | 87,100 |
| Chennai | 70,010 | 97,900 |
| Pune | 70,010 | 92,800 |
| Ahmadabad | 70,060 | 92,900 |
| Kolkata | 70,010 | 92,800 |
| Hyderabad | 70,010 | 97,900 |
Gold Price Increase Reason
Gold Price Increase Reasons are the following:
- Fed’s rate cut
Last week, the US Central Bank, Federal Reserve cut its benchmark interest rate by 50 basis points to 4.75%-5.00% for the first time in last four years. Slashing of rates is considered positive for the yellow metal. Consequently, gold prices have only increased since then.
2. Geopolitical tensions
Ongoing war in the middle east and Russia’s invasion of Ukraine has also played its part in gold price surge globally. The oldest commodity known to mankind is perceived by the people as safe haven to invest during such uncertainties. Everytime there has been economic uncertainties or war, people have chosen to invest in the precious metal leading to surge in its prices. The same thing is happening currently with the yellow metal.
