Does gold cost less now? Check Prices & Trends For October 12 In Your City
Retail rates for 10 grams of gold as of October 12 vary amongst cities, with an average price of around Rs 58,000. To go more exact, 10 grams of 24-carat gold costs around Rs 58,910, but the same amount of 22-carat gold is worth Rs 54,000. Furthermore, a kilogram of silver now costs Rs 72,600.
India’s retail gold price as of October 12
Delhi Gold Rate
In Delhi, the cost of 10 grams of 22-carat gold is Rs 54,150, while clients must spend Rs 59,070 for the same weight of 24-carat gold.
Ahmedabad Gold Rate
The current retail price in Ahmedabad for 10 grams of 22-carat gold is Rs 54,050, while the same weight of 24-carat gold costs Rs 58,960. If prices change during the day, we promise to keep this post updated.
Chennai Gold Rate
In Chennai, 10 grams of 22-carat gold sell for Rs 54,150, while the same weight of 24-carat gold costs Rs 59,070.
Check gold rates today in different cities on October 12, 2023; (In Rs/10 grams)
| CITY | 22 CARAT GOLD PRICE | 24 CARAT GOLD PRICE |
| Mumbai | 54,000 | 58,910 |
| Gurugram | 54,150 | 59,060 |
| Kolkata | 54,000 | 58,910 |
| Lucknow | 54,150 | 59,060 |
| Bengaluru | 54,000 | 58,910 |
| Jaipur | 54,150 | 59,060 |
| Patna | 54,050 | 58,960 |
| Bhubaneshwar | 54,000 | 58,910 |
| Hyderabad | 54,000 | 58,910 |
Multi-Product Exchange
Gold futures with an expiration date of December 5, 2023, were being traded on the Multi Commodity Exchange for Rs 58,086 as of October 12. Silver futures, on the other hand, were valued at Rs 69,827 for the same maturity date.
The amount at which gold is offered for sale to customers domestically is known as the retail price. The cost of labor and materials required to make gold jewelry, as well as the price of gold on the world market and the value of the Indian rupee, all have an impact on the pricing.
The following variables may have an impact on the price of gold:
Supply and Demand: The dynamic interaction of supply and demand in the market is the main factor influencing the price of gold. Price increases are often accompanied by an increase in demand, whereas price declines are sometimes caused by an excess of gold supply.
Global Economic Conditions: The state of the general world economy has a significant effect on gold prices. Investors often choose gold as a safe haven during times of economic uncertainty or recession, driving up the price of the metal.
Political Unrest: Political unrest may also have a significant impact on gold prices. Investors may decide to safeguard their assets by investing in gold as a hedging strategy against uncertainty when there is political unrest or crisis in a large country or area. The price of gold may rise as a consequence of this increased demand.
Due to its cultural significance, financial potential, and customary use in weddings and celebrations, gold has great significance in India.
