Last updated time: 06 March 2023, 12:21 IST
In Delhi, ten grams of 24 carat gold was sold at Rs 56,700, while 22 carat gold was sold at Rs 51,950.(Representative image)
The price of gold items, such as jewelry, is usually higher than the price of the total weight of the gold.
Gold prices in India were steady on Monday, March 6. At 09:14 hours on the Multi Commodity Exchange of India (MCX), gold futures were trading at Rs. 55,940.Silver futures also witnessed a steady trend at Rs.64,844.
In the Indian retail market, gold prices remained unchanged on March 6, with the 22 carat grade selling at Rs 51,850 per 10 grams and the 24 carat gold grade at Rs 56,550 for the same quantity.
Gold price is not uniform in all states of India. Precious metal is also subject to factors such as government taxes and other fees that affect its value.
Chennai, Coimbatore and Madurai in southern India have two prominent grades of gold, 24 carat and 22 carat. Today, the purest form of gold in these cities was sold at Rs 57,280 per 10 grams, while 22 carat gold was priced at Rs 52,510 for the same quantity.
In Delhi, ten grams of 24 carat gold was sold at Rs 56,700, while 22 carat gold was sold at Rs 51,950.
56,600 per 10 grams in Bengaluru for 24K gold. On the other hand, 22 thousand carat gold was sold for Rs. 51,900 to the same amount in Bengaluru. In Mumbai, 22k carat gold retailed at Rs. 51, 850 and 24 thousand carat gold prices were Rs. 56,550.
Kolkata, Hyderabad and Mumbai recorded flat gold prices, with 10 grams of 24 carat gold retailing at Rs. 56,550, while the same amount of 22 carat gold is sold at Rs. 51, 850.
The price of gold items, such as jewelry, is usually higher than the price of the total weight of the gold. This is because a manufacturing fee is charged for finished products of all sizes.
Currently, the price of gold in the international market is affected by the exchange rate between the Indian rupee and the US dollar, as well as supply and demand factors. An increase in demand, for example, especially during the holiday season, can drive prices up, while a decrease in demand – due to rising interest income on savings – can drive prices down.
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