On September 16, check the most recent rates in your city for gold and silver
On Saturday, gold prices rose by Re 1. Today’s price for one gram of 22K gold is $5,471, according to the website Goodreturns. The word “K” or “carat” is used to describe the purity of gold. Since 24K gold has a purity of 99.9%, it is referred to as pure gold. It is liquid in nature and is devoid of any traces of other metals.
On the other hand, jewelry is made from 22K gold, which has traces of other metals like copper and zinc.
The prices of gold and silver on September 16, 2023, are shown below for major cities.
The ideal investment strategy is gold, which serves as an inflation hedge. Typically, it is exchanged in bars, coins, and jewelry. The price of gold in India is influenced by a number of variables, including the rupee, worldwide demand, interest rates, and governmental policy. Gold will rise in price if the rupee in India falls against the US dollar.
The price of gold is also influenced by external variables such as the strength of the dollar relative to other currencies and the expansion of the world economy. The demand for the precious metal is another crucial element. The price of gold will decrease if there is a weak demand for it.
Silver cost
Silver’s cost stayed the same on Saturday. One gram of silver cost 74 grams, according to the website Goodreturns. In India’s jewelry sector, silver is constantly in demand. Silver is in great demand, hence it is becoming less and less accessible.
10 grams of silver cost 740 rupees in Delhi, Mumbai, and Kolkata, according to the website Goodreturns. The price of the precious metal was, however, 735 and 775 respectively per 10 grams in Bengaluru and Chennai.
