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New Delhi: The season of weddings and festivals is near, and the price of gold has again started affecting the pocket. On Wednesday, June 10, 24-carat gold was priced at around Rs 15,168 per gram across the country. Whereas 22 carat gold, which is most used in making jewellery, is priced around Rs 13,904 per gram. Marketers are saying that the demand for gold is increasing in the world and there are also signs of inflation. For this reason, gold is going up.
The rate of gold in India is not determined only by the country. Many things work behind this. How much gold is being sold in the foreign market for dollars, whether the dollar is strong or weak, how much tax has been imposed by the government on imports, and what is the demand at home - all these together form the price. When turmoil increases in the world and stocks fall, people start buying gold considering it a safe haven. As demand increases, prices automatically go up.
In the capital Delhi, 24-carat gold is being sold at Rs 15,183 per gram. The rate of 22 carat is Rs 13,919 per gram. The price in Delhi remains slightly up and down compared to other places.
The prices in Mumbai and Kolkata are almost equal. In both cities, 24 carat gold is around Rs 15,168 per gram. 22 carat gold is priced at Rs 13,904 per gram. The difference here is very slight.
Gold in Chennai is always a little more expensive than other big cities. Here, 24-carat gold has reached Rs 15,348 per gram. The price of 22 carat is Rs 14,069 per gram. The reason for this is the high local tax and demand here.
Along with gold, silver is also at a high level. In the country, pure silver i.e. 999 silver is being sold at Rs 259,900 per kg. The rate of Sterling Silver i.e. 925 silver is around Rs 254,000 per kg.
The price of silver is almost the same in all four big cities. In Delhi, Mumbai, Kolkata and Chennai, silver of 999 purity is available at the rate of Rs 2,599 per 10 grams. There is not much difference here from city to city.
Experts are saying that the prices of gold and silver will continue to fluctuate in future also. The rate will depend on how the foreign economy is and what big investors do. Therefore, if you are planning to buy gold and silver or want to invest, then definitely check the latest rates of your city. Prices are changing daily during the festival season, it will be beneficial if you proceed with a little wisdom.