Gold prices on Wednesday have reduced after being steady for last two days. After a reduction of ₹450, cost of ten gram of 22K gold has come down to ₹56,750. Similarly, the price of ten gram of 24K gold settled at ₹61,910 after a reduction of ₹490.
Goodreturns website showed that the price of 24K gold per gram in India today is Rs6,142 and 22K gold is priced at ₹5,630.
Similarly, silver price has also reduced as compared with yesterday. The cost of 100 gram silver is ₹7,460.
The precious metal gold is considered a hedge against inflation.
A look at rates gold and silver rates in major Indian cities:
| Cities | Gold (24K/10gram) | Silver (per 10 gram) |
| Delhi | ₹61,570 | ₹746 |
| Mumbai | ₹61,420 | ₹746 |
| Kolkata | ₹61,420 | ₹746 |
| Chennai | ₹61,850 | ₹782 |
| Bengaluru | ₹61,470 | ₹782 |
| Lucknow | ₹61,570 | ₹746 |
| Patna | ₹61,470 | ₹746 |
| Hyderabad | ₹61,420 | ₹782 |
In the US market, gold prices steadied on Wednesday with gains capped by a firmer dollar, as investors fretted over prolonged U.S. debt-limit negotiations.
Spot gold was little changed at $1,988.29 per ounce U.S. gold futures steadied at $1,992.20.
