Gold Rate Update: Women no longer decorate themselves with gold as they formerly did to mark important occasions. The shifting pace of economic growth has forced even institutional investors to invest in this asset, which is a source of long-term profits. As of right now, 22k gold costs Rs 5,500 per gram in India, whereas 24k gold, also known as 999 gold, costs Rs 6,000 per gram.
Prices of gold in major cities
| Name of cities | Prices of 22k gold in rupees | Prices of 24k gold in rupees |
| Chennai | 55,300 | 60,330 |
| Delhi | 55,150 | 60,200 |
| Hyderabad | 55,000 | 60,000 |
| Pune | 55,000 | 60,000 |
| Vadodara | 55,050 | 60,050 |
| Ahmedabad | 55,050 | 60,050 |
| Madurai | 55,300 | 60,330 |
| Vijayawada | 55,000 | 60,000 |
| Bhubaneswar | 55,000 | 60,000 |
| Visakhapatnam | 55,000 | 60,000 |
| Nashik | 55,180 | 60,030 |
| Mysore | 55,000 | 60,000 |
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 0.09 percent to Rs 59189. For delivery on September 5, 2023, silver futures with a December 5, 2023, expiration date are currently priced at Rs. 73235, which is a reduction of 0.29% from their previous price. Gold’s purity is gauged in carats, with 24 being the purest. To make 24K gold stronger, it must be alloyed with other metals because it is pliable and elastic. For instance, 91.6 percent of 22k gold is composed of 22 parts gold and 2 parts other metals. The purity of gold affects its cost.
Imports of gold in India
At one point, if you were entering the country from overseas, the only thing you loved to bring with you was gold. Getting gold into the country is not as exciting these days. In the event that you decide to purchase the precious metal, there are a few things you should bear in mind. You are not allowed to import any gold worth more than Rs 50,000 if you are a male traveller. However, female passengers can purchase gold worth up to around Rs 1 lakh.
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.)
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