The gold rates witnessed a slight decrease by ₹35 from Thursday. According to the Goodreturns website, the price of 22 carat gold stood at ₹5,590 per gram. In India, gold prices are determined on several factors including global demand, interest rates, currency and government policies. It is also dependent on demand for the precious metal. If the demand for gold is not robust, the rates will slide.
Here are the gold rates for prominent cities on Friday, April 7, 2023.
In case you are confused about ‘K’ in gold prices, it is basically carat. It is a term used to measure the purity of gold. A 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. 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 rate of silver almost remained unchanged on Friday. According to Goodreturns website, a gram of silver costs ₹76.49 today.
In India, the price of silver is decided by factors including industrial demand, gold rates, bulk purchases etc. In case the price of gold increases, the rate of silver will also increase.
Here are the latest rates of silver across multiple cities on Friday April 7, 2023.
Silver can be purchased from banks, jewellers and online agents in India. The banks charge higher rates due to purity checks and assurance provided by them.