Gold Prices Increase by ₹30: 22K Gold Now at ₹5,710, 24K at ₹6,229
The gold price took a jump this Sunday, soaring by ₹30 per gramme, according to the latest data from Goodreturns. As of today, the rates for one gramme of 22K and 24K gold stand at ₹5,710 and ₹6,229, respectively.
🏅Gold Prices Near to Double!📈#goldprice #Gold #gold #India pic.twitter.com/Y9QnTT8GUb
— Asset Yogi (@assetyogi) November 21, 2023
Understanding Gold Grades:
– The term ‘K’ or carat indicates how pure the gold is.
– 24K gold is considered pure with a 99% purity, devoid of any other metals, while 22K gold includes traces of metals like copper and zinc, commonly used in jewellery making.
Read more:- Gold and Silver Prices for November 9: Get the Latest Rates in Your City
Latest Prices Across Major Cities:
– Delhi: 22K – ₹57,250 / 24K – ₹62,440
– Mumbai: 22K – ₹57,100 / 24K – ₹62,290
– Kolkata: 22K – ₹57,100 / 24K – ₹62,290
– Chennai: 22K – ₹57,550 / 24K – ₹62,780
– Bengaluru: 22K – ₹57,100 / 24K – ₹62,290
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Factors Influencing Gold Rates:
Several factors play a role in determining gold prices, including currency fluctuations, government policies, and demand trends. For instance, if the Indian rupee weakens against the US dollar, gold prices tend to rise. Additionally, international factors such as global economic growth and the strength of the dollar against other currencies significantly impact gold prices. The demand for gold is also a crucial factor; if demand isn’t robust, prices may fall.
Read more:- Looking for Gold Chain for Women at Affordable Prices? Check This Out
Silver Prices Show Increment:
Silver prices also saw a minor rise of Re 1 on Sunday, with the cost of one gramme standing at ₹77.20. In India, silver rates are influenced by various factors, including gold rates, industrial demands, bulk purchases, and inflation. Notably, when gold prices surge, silver prices tend to follow suit.
Current Silver Rates Across Cities:
– Delhi, Mumbai, Kolkata: ₹772 for 10 gms
– Bengaluru: ₹762.50 for 10 gms
– Chennai: ₹802 for 10 gms
In essence, while these precious metal prices fluctuate based on multiple factors, their movements often reflect broader economic trends and market demands.
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