On September 29, check the most recent rates in your city for gold and silver
On Friday, gold prices dropped by $60. The cost of 22K and 24K gold was $5,390 per gram and $5,880 per gram, respectively, according to the website Goodreturns.
The purity of gold is expressed in karats, or K. In plain English, 24K gold is also known as pure gold and has a purity of 99.9%. There are no traces of any other metals in it. However, 22K gold is made up of 22 parts gold and 2 parts other metals, such as copper and zinc.
As a great hedge against inflation, gold is a popular investment option and is traded in the form of coins, bars, and jewelry. The gold prices for the main cities on September 29, 2023, are listed below.
Gold prices in India are influenced by a number of variables, including the economy worldwide, the rupee, and demand. The price of gold would rise if the rupee weakens versus the US dollar.
The value of the dollar in relation to other currencies and other global variables also affect the price of gold. The demand for the precious metal is another crucial element. The price of gold will decrease if there is a weak demand for it. The interest rate is a significant additional element that influences gold prices. For instance, gold prices decrease when interest rates in nations like the US rise. When interest rates fall, the reverse occurs.
Silver cost
On Friday, silver’s cost dropped by 50 paise. One gram of silver cost 73.70, according to the website Goodreturns. 10 grams of silver cost 737 in Delhi, Mumbai, and Kolkata. 10 grams of silver cost 765 and 730 rupees in Chennai and Bengaluru, respectively.
