Gold rates depreciated by just one rupee as compared to Saturday’s price. According to website Goodreturns, one gram of 22 carat gold is worth ₹5,579. On the other hand, the price of 24K gold is priced at ₹6,086.
Gold is considered a safe and reliable mode of investment, and an excellent hedge against inflation. It is traded in the form of coins, bars, jewellery, exchanges etc.
In India, gold rates are based on factors including global demand, currency, interest rates and government policies. It is also dependent on international factors like global economic growth, dollar strength against other currencies etc.
Here are the gold prices for prominent cities on April 9. 2023.
The term ‘carat’ is used to measure the purity of gold. A 24K gold is also called pure gold and has 99.9 per cent purity.
On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc. It is harder than 24K gold due to presence of other metals. It is suited for making jewellery.
The price of silver remained unchanged on Sunday April 9, 2023. One gram of silver costs ₹76.67 according to Goodreturns website.