The price of gold remained unchanged on Sunday. According to website Goodreturns, one gram of 22 carat gold cost ₹5,510. On the other hand, 24 carat gold cost ₹6.011 per gramme.
In Delhi, ten grams of 22 carat gold costs ₹55,450 while you need to pay ₹60,490 for ten grams of 24 carat gold. In India’s financial capital Mumbai, 22 carat gold is being sold at ₹55,100 per ten grams while the price of 24 carat gold is ₹60,110 per ten grams.
Here are the gold rates for prominent cities on June 18, 2023.
In India, gold rates are detemined on numerous factors including global demand, currency, interest rates and government policies. In case, the rupee depreciates against the US dollar, gold will become expensive.
The gold prices are also dependent on international factors like global economic growth, dollar strength against other currencies etc. Another important factor is the demand for the precious metal.
The price of silver remained unchanged on Sunday. According to website Goodreturns, one gram of silver cost ₹73.50. In India, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increases, the silver price will also increase.