Gold and Silver Prices Surge Across Major Indian Cities
Current Gold and Silver Prices
Buyers of gold will need to pay more as prices have increased, with 24-carat gold experiencing a rise on Thursday, May 22. The widely favored 22-carat gold, known for its strength, is now priced at Rs 89,310 for every 10 grams.
On the same day, the price for 10 grams of 24-carat gold reached Rs 97,430, as reported by Good Returns. Silver prices have also climbed, now standing at Rs 1,00,100 per kilogram.
Price Comparison in Major Cities
In Mumbai, the cost for 10 grams of 24-carat gold matches that of Kolkata, Chennai, and Hyderabad at Rs 97,430. Meanwhile, in Delhi, the price for the same quantity is slightly higher at Rs 97,580.
For 22-carat gold, the price in Mumbai is Rs 89,310, consistent with Kolkata, Bengaluru, Chennai, and Hyderabad. In Delhi, it is priced at Rs 89,460.
Silver prices remain uniform in Delhi, Mumbai, and Kolkata at Rs 1,00,100 per kilogram, while in Chennai and Hyderabad, it is priced at Rs 1,11,100.
Gold Prices in Key Cities
| City |
Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 89,460 | Rs 97,580 | Rs 1,00,100 |
| Noida | Rs 89,460 | Rs 97,580 | Rs 1,00,100 |
| Lucknow | Rs 89,460 | Rs 97,580 | Rs 1,00,100 |
| Mumbai | Rs 89,310 | Rs 97,430 | Rs 1,00,100 |
| Bengaluru | Rs 89,310 | Rs 97,430 | Rs 1,00,100 |
| Chennai | Rs 89,310 | Rs 97,430 | Rs 1,11,100 |
| Pune | Rs 89,310 | Rs 97,430 | Rs 1,00,100 |
| Ahmedabad | Rs 89,360 | Rs 97,480 | Rs 1,00,100 |
| Kolkata | Rs 89,310 | Rs 97,430 | Rs 1,00,100 |
| Hyderabad | Rs 89,310 | Rs 97,430 | Rs 1,11,100 |
Factors Influencing Gold Prices
Gold prices in India are not solely determined by local demand and supply. They are heavily influenced by trading activities in major global markets, such as the London OTC spot market and the COMEX gold futures market.
Additionally, various factors including global events, political situations, decisions made by central banks, and fluctuations in currency values can also impact the prices of this precious metal.
Checking Gold Purity
Here are some methods to verify the purity of gold:
1. Look for a hallmark: The most reliable method is to check for a hallmark. 22-carat gold, also referred to as 916 gold, will have a hallmark stamp indicating 916.
2. Check for the BIS Standard Mark: Jewelry should display a triangle with the letters 'BIS' underneath to confirm its purity.
3. Perform an acid test: Under proper guidance, an acid test can be conducted using nitric acid to assess purity.
4. Colour test: Pure gold retains its yellow color and does not tarnish.