Gold-Silver Price On August 10: Did Yellow Metal Rates Rise? Check What You're Paying Today

New Delhi: Gold and silver prices continue to fluctuate amid international tension and changing strategies of investors. On Monday, a increase was seen in both precious metals in the domestic market. Both gold and silver remained under pressure on MCX, due to which both buyers and investors are keeping an eye on the market movements.

Why the price of gold?

The demand of gold and inflationary factors have risen all over the world, which has helped the gold prices to slightly climb in India till the date of writing this article. Presently, 24K gold is available at Rs 15,234 per gram and 22K gold is available at Rs 13,964 per gram.

The prices of gold in various big cities of the country on Thursday morning are as follows:

Delhi

24 carat: Rs 15,254 per gram
22 carat: Rs 13,984 per gram
18 carat: Rs 10,947 per gram

Mumbai

24 carat: Rs 15,234 per gram
22 carat: Rs 13,964 per gram
18 carat: Rs 10,932 per gram

Chennai

24 carat: Rs 15,163 per gram
22 carat: Rs 13,899 per gram
18 carat: Rs 11,176 per gram

Kolkata

24 carat: Rs 15,234 per gram
22 carat: Rs 13,964 per gram
18 carat: Rs 10,932 per gram

What is the price of silver?

The cost of silver today is roughly Rs 2,44,900 per kilogram in India, while the price of Silver 925 (otherwise known as Sterling silver) is Rs 2,44,000 per kilogram. Silver, even though cheaper than gold, is more popularly used for investments and making jewelry than gold. Just like gold, the price of silver is highly dependent on international markets, and industrial demands greatly influence the prices of silver.

What is the purpose of increase?

There are a number of factors that impact gold rates in India such as the gold price overseas, US dollar exchange rate, and the domestic demand for jewellery particularly in advance of festive seasons. This means that the price of gold in India can fluctuate based on these factors. This had a direct impact on the Indian market and gold became cheaper and costlier in the domestic bullion market.