Gold and silver prices in India saw a slight drop on Tuesday. One gram of 22-carat gold dropped ₹10 per gram at is priced at ₹5,505. For 8 grams and 10 grams of 22-carat gold, the prices were ₹44,040 and ₹55,050. The cost for 100 grams of 22-carat gold was ₹5,50,500.
The price of 24-carat gold also saw a similar trend and one gram is priced at ₹6,006.
Silver prices maintained the same trend as gold, with one kilogram priced at ₹74,000, registering a ₹1000 drop on the national level.
These prices are decided by different parameters, like what respected jewellers say. The prices are influenced by factors such as how much people around the world want gold, the value of money in different countries, interest rates, and rules the government makes about gold. Things happening globally, such as how well the world economy is doing and how strong the US dollar is compared to other money, also affect the prices of gold in India.