Gold and silver prices in India experienced a modest decline on Wednesday. The cost of 22-carat gold witnessed a marginal reduction of ₹10 per gram, settling at ₹5,495 per gram. For larger quantities, 8 grams and 10 grams of 22-carat gold were priced at ₹43,960 and ₹54,950 respectively. Notably, the price for 100 grams of 22-carat gold stood at ₹5,49,500.
A comparable trajectory was observed in the prices of 24-carat gold, where one gram was valued at ₹5,995.
Silver prices, however, maintained stability with one kilogram of silver priced at ₹74,000 on a national scale.
These price fluctuations are influenced by a range of determinants, including insights from reputable jewellers. Various factors contribute to these shifts, encompassing global demand for gold, currency valuations across different nations, prevailing interest rates, and governmental regulations related to gold trade. Additionally, worldwide occurrences, such as the overall health of the global economy and the relative strength of the US dollar in comparison to other currencies, play a significant role in shaping gold prices in the Indian market.