Gold and Silver Prices Rise Across Major Indian Cities
Current Gold and Silver Prices
Buyers of gold will need to adjust their budgets as prices have increased, with 24-carat gold reaching new heights on Friday, June 20. The widely favored 22-carat gold, known for its strength, is now priced at Rs 92,660 for every 10 grams.
On the same day, the cost of 24-carat gold also saw a rise, with 10 grams available for Rs 1,01,090, as reported by market analysts. Additionally, silver prices have surged, now standing at Rs 1,12,100 per kilogram.
Price Comparison in Major Cities
In Mumbai, the price for 10 grams of 24-carat gold matches that of Kolkata, Chennai, and Hyderabad at Rs 1,01,090. In contrast, the price in Delhi is slightly higher at Rs 1,01,220.
For 22-carat gold, the price in Mumbai is Rs 92,660, consistent with Kolkata, Bengaluru, Chennai, and Hyderabad. However, in Delhi, it is priced at Rs 92,810.
Silver prices remain uniform in Delhi, Mumbai, and Kolkata at Rs 1,12,100 per kilogram, while in Chennai and Hyderabad, it is priced at Rs 1,22,100.
Gold Prices in Key Cities
| City |
Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 92,810 | Rs 1,01,220 | Rs 1,12,100 |
| Noida | Rs 92,810 | Rs 1,01,220 | Rs 1,12,100 |
| Lucknow | Rs 92,810 | Rs 1,01,220 | Rs 1,12,100 |
| Mumbai | Rs 92,660 | Rs 1,01,090 | Rs 1,12,100 |
| Bengaluru | Rs 92,660 | Rs 1,01,090 | Rs 1,12,100 |
| Chennai | Rs 92,660 | Rs 1,01,090 | Rs 1,22,100 |
| Pune | Rs 92,660 | Rs 1,01,090 | Rs 1,12,100 |
| Ahmedabad | Rs 92,710 | Rs 1,00,980 | Rs 1,12,100 |
| Kolkata | Rs 92,660 | Rs 1,01,090 | Rs 1,12,100 |
| Hyderabad | Rs 92,660 | Rs 1,01,090 | Rs 1,22,100 |
Factors Influencing Gold Prices in India
Many believe that gold prices in India are primarily determined by local demand and supply; however, this is not entirely accurate. The prices are heavily influenced by trading activities in significant global markets, such as the London OTC spot market and the COMEX gold futures market.
Moreover, various factors including international events, political developments, decisions made by central banks, and fluctuations in currency values can also impact the pricing of this precious metal.
How to Verify Gold Purity
To ensure the purity of gold, consider the following methods:
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 gold purity.
4. Colour test: Genuine gold maintains its yellow hue and does not tarnish.