How Is Gold Doing In India Right Now? On October 14, learn the current rate in your city
As of the 14th of October, the retail costs for 10 grams of gold vary widely across different cities, with the average price being somewhere about Rs 58,000. To go even further into the statistics, the price of 10 grams of 24-carat gold is around 58,910 Indian Rupees, but the same amount of 22-carat gold is valued at 54,000 Indian Rupees. In addition, the cost of one kilogram of silver at the present time is Rs 72,600.
The retail price of gold in India on October 14
Delhi Gold Rate
Customers in Delhi are required to pay Rs 54,150 for 10 grams of 22-carat gold, while they must pay Rs 59,060 for the same amount 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 amount of 24-carat gold is listed at Rs 58,960. Both of these prices are in Indian Rupees. We promise to keep this information up to date in the event that the price of the item changes at any point throughout the day.
Chennai Gold Rate
The retail price of 10 grams of 22-carat gold in Chennai is Rs 55,100, whereas the retail price of the same amount of 24-carat gold is Rs 60,110.
Check gold rates today in different cities on October 14, 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 |
Multiple Commodity Trading Platform
On the Multi Commodity Exchange, gold futures contracts with an expiration date of December 05, 2023 were being traded for Rs 59,415 as of the 13th of October. On the other hand, the price of silver futures contracts that had the same maturity date was Rs 71,368.
Gold is sold to individuals inside the nation at a price known as the retail price, which is sometimes referred to simply as the price. The pricing of these items is determined by a number of variables, such as the current market price of gold, the strength of the Indian Rupee, and the costs of the labor and materials that go into the production of gold jewelry.
The following is a list of potential variables that might have an effect on the price of gold:
Supply and Demand: The price of gold is largely influenced by the complex dynamic relationship that exists between the market’s supply and demand. The price of gold will normally go up in response to an increase in demand; nevertheless, an excess in the supply of gold might result in a decrease in price.
Conditions in the Global Economy The larger global economic environment is another factor that has a significant influence on the price of gold. Investors often seek the stability and security offered by gold as a safe haven during times of global economic instability or contraction, which drives up the price of gold.
Political Uncertainty In addition, political uncertainty has the potential to have a significant impact on the price of gold. When there is political unrest or crisis in a key country or area, investors may choose to hedge their bets against uncertainty by securing their assets by investing in gold as a kind of investment diversification. A possible outcome of this increased demand is for the price of gold to go higher.
Because of its historical significance, its worth as an investment, and its customary function in Indian weddings and other celebrations, gold bears a great deal of weight in India.
