India’s Gold Prices Drop: Find Out the 22-carat price in your city on April 20
Current Indian Gold Rate: Due to geopolitical tensions between Iran and Israel, gold prices in India saw a decline on April 20 after continuing to rise steadily. Ten grams of gold were originally priced at Rs 74,240. Ten kilos of 24 carat pure gold were selling for around Rs 74,240, while 22 carat gold was selling for Rs 68,050.
The price of silver increased at the same time, hitting Rs 86,500 per kilogram.
India’s current gold rate: April 20 retail gold price
Mumbai’s current gold rate
Ten grams of 22-carat gold now cost Rs 68,050 in Mumbai, but the same weight in 24-carat gold is worth Rs 74,240.
Delhi’s Current Gold Rate
By April 18, 2024, 10 grams of 22-carat gold would cost around Rs 68,210 in Delhi, while 10 grams of 24-carat gold will cost about Rs 74,390.
The current gold rate in Ahmedabad
Ten grams of 22-carat gold costs Rs 68,110 in Ahmedabad, whereas the same quantity of 24-carat gold costs Rs 74,290.
Examine current gold prices in several cities on April 20, 2024. (In grams/Rs)
22 carat gold price in the city; 24-carat gold price
75,110 Chennai 68,850
Bengaluru 68,050 74,240
68,210 Gurugram 74,390
68,210,74,390 Lucknow
68,050–74,240 Bengaluru
68,210 Jaipur 74,390
Patna 68,110,74,290
34,240 Bhubaneshwar 68,050
Bangalore 68,050–74,240
Exchange of Multiple Commodities
The commodities market is closed on Saturdays and Sundays, hence, the MCX was closed on April 20, 2024.
Gold’s Retail Price
The ultimate cost per unit weight that customers pay when buying gold is reflected in the Indian gold price, also known as the retail gold price. A number of variables beyond the metal’s intrinsic worth affect its price.
Due to its significance in Indian culture, its value as an investment, and its historical association with weddings and festivities, gold is highly valued in the country.
The following are a few variables that might affect the price of gold:
Market forces and gold value: supply 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 gold as a means of protecting their wealth, thereby increasing demand and driving up the price of gold.
