Gold Prices: Rates of yellow metal falls significantly, with 24-carat gold witnessing a drop of Rs 440 per 10 grams in a week. Additionally, the popular choice for jewelers, 22-carat gold, prized for its durability, was down by Rs 140 for 10 grams.
The price of 24-carat gold currently stand at Rs 77,450 per 10 grams, according to Good Returns. Furthermore, the price of 22-carat gold currently stands at Rs 71,000 per 10 grams.
Notably, the price of 24-carat gold was at Rs 77,890 per 10 grams on Monday, December 16. During the same time, the rate of 22-carat gold was Rs 71,140 per 10 grams.
Gold Prices In Major Cities
Here’s a table showing only the Gold Prices (22-Carat/10 gm and 24-Carat/10 gm) for various cities:
| City | Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) |
|---|---|---|
| Delhi | Rs 71,150 | Rs 77,600 |
| Noida | Rs 71,150 | Rs 77,600 |
| Lucknow | Rs 71,150 | Rs 77,600 |
| Mumbai | Rs 71,000 | Rs 77,450 |
| Bengaluru | Rs 71,000 | Rs 77,450 |
| Chennai | Rs 71,000 | Rs 77,450 |
| Pune | Rs 71,000 | Rs 77,450 |
| Ahmedabad | Rs 71,050 | Rs 77,500 |
| Kolkata | Rs 71,000 | Rs 77,450 |
| Hyderabad | Rs 71,000 | Rs 77,450 |
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.
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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