Gold Prices Decline: Latest Rates Across Major Indian Cities
Current Gold and Silver Prices
In a positive turn for gold buyers, the price of gold has decreased, with 24-carat gold recorded at a lower rate on Tuesday, June 10. The 22-carat variant, favored by jewelers for its strength, is currently priced at Rs 89,540 for every 10 grams.
As per Good Returns, the cost of 24-carat gold has fallen to Rs 97,680 for 10 grams. In contrast, silver prices have risen, now standing at Rs 1,08,100 per kilogram.
In major cities like Mumbai, Kolkata, Chennai, and Hyderabad, the price for 10 grams of 24-carat gold is consistent at Rs 97,680, while in Delhi, it is slightly higher at Rs 97,830.
The 22-carat gold price in Mumbai matches that of Kolkata, Bengaluru, Chennai, and Hyderabad at Rs 89,540, whereas in Delhi, it is priced at Rs 89,690.
For silver, the price remains uniform at Rs 1,08,100 per kilogram in Delhi, Mumbai, and Kolkata, while it is higher at Rs 1,17,900 in Chennai and Hyderabad.
Gold Price Overview in Key Cities
| City |
Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 89,690 | Rs 97,830 | Rs 1,08,100 |
| Noida | Rs 89,690 | Rs 97,830 | Rs 1,08,100 |
| Lucknow | Rs 89,690 | Rs 97,830 | Rs 1,08,100 |
| Mumbai | Rs 89,540 | Rs 97,680 | Rs 1,08,100 |
| Bengaluru | Rs 89,540 | Rs 97,680 | Rs 1,08,100 |
| Chennai | Rs 89,540 | Rs 97,680 | Rs 1,17,900 |
| Pune | Rs 89,540 | Rs 97,680 | Rs 1,08,100 |
| Ahmedabad | Rs 89,590 | Rs 97,730 | Rs 1,08,100 |
| Kolkata | Rs 89,540 | Rs 97,680 | Rs 1,08,100 |
| Hyderabad | Rs 89,540 | Rs 97,680 | Rs 1,17,900 |
Factors Influencing Gold Prices in India
Gold prices in India are not merely dictated by local demand and supply. They are heavily influenced by trading activities in significant global markets, such as the London OTC spot market and the COMEX gold futures market.
Additionally, various factors including global events, political developments, decisions made by central banks, and fluctuations in currency values can also impact the pricing of this precious metal.
Tips for Checking Gold Purity
To verify the purity of gold, consider the following methods:
1. Look for a hallmark: The hallmark is a reliable indicator. For 22-carat gold, often referred to as 916 gold, a stamp of 916 will be present on the item.
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 the gold's purity.
4. Colour test: Genuine gold maintains its yellow hue and does not tarnish.