Gold Rate Update: Institutional investors have been compelled to participate in this asset because of the economy’s fluctuating rate of growth because it is a reliable source of long-term gains. Carats are used to measure the purity of gold, with 24 being the purest. Because 24K gold is malleable and elastic, additional metals must be alloyed with it to make it stronger. 91.6% of 22k gold, for instance, is made up of 22 parts gold and 2 parts other metals. The price of gold depends on its purity. The current price of gold in India is Rs 5,490 per gram for 22k gold and Rs 5,989 per gram for 24k gold, commonly known as 999 gold.
Prices of gold in some major cities
| Name of cities | Prices of gold in rupees |
| Delhi | 60,040 |
| Kolkata | 59,890 |
| Kerala | 59,890 |
| Pune | 59,890 |
| Jaipur | 60,040 |
| Vijayawada | 59,890 |
| Patna | 59,940 |
| Nagpur | 59,890 |
| Chandigarh | 60,040 |
| Surat | 59,940 |
| Bhubaneswar | 59,890 |
| Mangalore | 59,890 |
Gold Rate Update: Prices of gold and silver on MCX
On the MCX, the cost of the 10-gram gold futures contract with an expiration date of October 5, 2023 dropped by 0.12 percent to Rs 59018. For delivery on September 5, 2023, silver futures with a December 5, 2023, expiration date are currently priced at Rs. 72320, which is a reduction of 0.21% from their previous price.
Gold Rate Update: Gold demand is decreasing
If the first half of the year is any indication, then the demand for gold in India seems to gradually dropping. In fact, according to World Gold Council statistics, demand for gold in India decreased by a whopping 42%. To say the least, this is not encouraging. In fact, the government has been attempting to limit gold consumption for a variety of reasons, including low demand for gold in rural areas. However, because of the increase in government salary, we may see considerably stronger demand in 2017.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER