Gold price today increased sharply by Rs 270 per 10 grams of 24 carat gold today while the prices of silver remained unchanged in the country.
In India, 10 grams of 24-carat gold is priced at Rs. 51,650 while 10 grams of 22-carat gold is priced at Rs. 47,350.
The price of 1 kg of silver is at Rs 58,000 in India.
Meanwhile, 10 grams of 22-carat gold is priced at Rs 46,500 in Delhi, Rs 47,350 Mumbai, Rs 48,200 in Chennai, and Rs 47,350 in Kolkata.
On the other hand, 10 grams of 24-carat gold is priced at
Rs 51,820 in Delhi, Rs 51,650 Mumbai, Rs 52,580 in Chennai, and Rs 51,650 in Kolkata.
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The price of silver remained unchanged at Rs 58,000 for the second consecutive day on Tuesday after dropping Rs 400 yesterday.
The gold and silver rates fluctuate every day due to the change in international market currency prices, inflation, gold reserves at central banks, interest rates, among other factors. The rate of gold jewellery also differs across the country due to taxes imposed by states, excise duty and varying making charges.
The price of silver in India is determined by changes in prices internationally. It also depends on the movement of the rupee against the dollar.
In the international market, Gold prices hit a four-week high on Tuesday, as a weaker dollar and a dip in U.S. Treasury yields boosted demand for the safe-haven metal amid mounting worries over an economic slowdown. Spot gold was up 0.4% at $1,778.69 per ounce, as of 0044 GMT, its highest since July 5. U.S. gold futures gained 0.2% to $1,791.10 per ounce, said a Reuters report.
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