Gold Prices Rise Significantly Across Major Indian Cities
Current Gold and Silver Prices
Buyers of gold will need to prepare for higher expenses as the price of the precious metal has increased. On Thursday, June 19, the cost of 24-carat gold rose, with 10 grams priced at Rs 1,00,920. Meanwhile, 22-carat gold, favored by jewelers for its strength, is now priced at Rs 92,510 for 10 grams.
According to market reports, silver has also seen a price increase, now standing at Rs 1,11,100 per kilogram. In major cities like Mumbai, Kolkata, Chennai, and Hyderabad, the price for 10 grams of 24-carat gold remains consistent at Rs 1,00,920, while in Delhi, it is slightly higher at Rs 1,01,070.
For 22-carat gold, the price in Mumbai is Rs 92,510, matching the rates in Kolkata, Bengaluru, Chennai, and Hyderabad. In Delhi, the price is marginally higher at Rs 92,660.
Silver prices are uniform in Delhi, Mumbai, and Kolkata at Rs 1,11,100 per kilogram, while in Chennai and Hyderabad, it is priced at Rs 1,21,100.
Gold and Silver Prices in Key Cities
| City |
Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 92,660 | Rs 1,01,070 | Rs 1,11,100 |
| Noida | Rs 92,660 | Rs 1,01,070 | Rs 1,11,100 |
| Lucknow | Rs 92,660 | Rs 1,01,070 | Rs 1,11,100 |
| Mumbai | Rs 92,510 | Rs 1,00,920 | Rs 1,11,100 |
| Bengaluru | Rs 92,510 | Rs 1,00,920 | Rs 1,11,100 |
| Chennai | Rs 92,510 | Rs 1,00,920 | Rs 1,21,100 |
| Pune | Rs 92,510 | Rs 1,00,920 | Rs 1,11,100 |
| Ahmedabad | Rs 92,560 | Rs 1,00,970 | Rs 1,11,100 |
| Kolkata | Rs 92,510 | Rs 1,00,920 | Rs 1,11,100 |
| Hyderabad | Rs 92,510 | Rs 1,00,920 | Rs 1,21,100 |
Understanding Gold Price Determination in India
Many believe that gold prices in India are primarily influenced by local demand and supply; however, this is not entirely accurate. The prices are largely affected 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 gold.
Tips for Checking Gold Purity
To ensure the purity of gold, consider the following methods:
1. Look for a hallmark: A hallmark is a reliable indicator of gold purity. For instance, 22-carat gold, known as 916 gold, will have a hallmark stamp indicating '916.'
2. Check for the BIS Standard Mark: Jewelry should display a triangle with 'BIS' underneath to confirm its purity.
3. Perform an acid test: Under proper guidance, an acid test can be conducted using nitric acid to verify gold purity.
4. Color test: Pure gold maintains its yellow color and does not tarnish.