India’s Gold and Silver Prices Soar: See the Most Recent Prices in Your City on December 28
Current Indian Prices for Gold and Silver: On Thursday, December 28, there was a spike in the spot market price of precious metals in India due to increased demand. In particular, the average cost of 10 grams of 24-carat gold was Rs 64,250, but the same quantity of 22-carat gold cost Rs 58,900. Silver also increased at the same period, hitting Rs 79,500 per kilogram.
Indian gold rate as of right now: December 28 retail gold price
Mumbai’s current gold rate
Ten grams of 22-carat gold now cost Rs 58,900 in Mumbai, whereas the same quantity of 24-carat gold costs Rs 64,250.
Delhi’s Current Gold Rate
Ten grams of 22-carat gold costs Rs 59,050 in Delhi, whereas the same quantity of 24-carat gold costs Rs 64,400.
Chennai’s current gold rate
Ten grams of 22-carat gold costs Rs 59,450 in Chennai, whereas the same quantity of 24-carat gold costs Rs 64,850.
Examine current gold prices in several cities on December 28, 2023. (In grams/Rs)
22-carat gold price in the city; 24-carat gold price
Ahmedabad 64,300, 58,950
Gurugram 64,400, 59,050
Kolkata 64,250, 58,900
Lucknow 64,400, 59,050
Bengaluru 64,250, 58,900
Jaipur 64,400, 59,050
Patna 64,300, 58,950
64,250 Bhubaneswar 58,900
Hyderabad 64,250, 58,900
Exchange of Multiple Commodities
On the Multi Commodity Exchange, gold futures with an expiration date of February 5, 2024, were trading for Rs 63,727 on December 28. At Rs 75,580, silver futures with an expiration date of March 5, 2024, were trading.
The quantity of gold sold to consumers nationwide is known as the retail price. The value of the Rupee, the cost of labor and materials required to make gold jewelry, and the price of gold globally all have an impact on this pricing.
Due to its historical significance in Indian culture, financial potential, and marriage and festival customs, gold is highly valued.
The following are a few variables that might affect the price of gold:
Market Rces and Gold Value: FoSupply and demand dynamics have a major impact on gold value. The price of gold usually rises when there is a spike in public demand for it. On the other hand, if there is an abundance of gold on the market, its value may drop.
Global Economic Dynamics: The overall health of the world economy has a big impact on gold prices. Gold gains in value because investors flock to it as a safe haven during recessions and downturns in the economy.
Impact of Political Uncertainty: The price of gold may be significantly impacted by political unrest. Situations of unpredictability or crises in crucial nations or areas may prompt investors to buy in gold as a means of protecting their wealth, hence increasing demand and driving up the price of gold.
