The gold rates witnessed a decrease on Friday (December 13), with the rate of 24-carat gold at Rs 7,887 per gram, depreciating by Rs 20 per gram, while 22-carat gold price went down by Rs 55, coming at Rs 7,230 and 18 carat-gold prices came down by Rs 45 at Rs 5,916 per gram.
City-wise gold and silver rates
Delhi
- Gold (24-carat): Rs 79,020 per 10 grams
- Gold (22-carat): Rs 72,450 per 10 grams.
Chennai
- Gold (24-carat): Rs 78,870 per 10 grams.
- Gold (22-carat): Rs 72,300 per 10 grams.
Mumbai
- Gold (24-carat): Rs 78,870 per 10 grams.
- Gold (22-carat): Rs 72,300 per 10 grams.
Kolkata
- Gold (24-carat): Rs 77,815 per 10 grams (up from Rs 77,645 yesterday).
- Gold (22-carat): Rs 71,435 per 10 grams.
What influences gold and silver prices?
Here’s a look at factors shaping gold and silver prices:
- International demand: Fluctuations in global demand of these metals significantly impact prices.
- Currency variations: The value of the US dollar against other currencies.
- Interest rates and policies: Changes in interest rates and government policies of different countries.
- Economic trends: The state of the global economy plays a key role.
Major jewelers and market inputs also influence the prices of precious metals in India, making them volatile yet significant for investors and buyers alike.