The prices of gold have gone down in India. In cities across India, the prices of gold stood near to Rs. 60,000 for 10gms of gold. In Delhi, it stood at, Rs. 55,000, on Sunday. The prices for 10 gms for 24 carat gold stood at Rs. 59,840 and for 10gms of 22 carat gold was Rs. 54,850. Silver prices stood at Rs. 74,700 per gram.
The prices of gold are influenced by several factors in India, which varies from global economic conditions to local economic conditions. These factors include, the level of inflation, the fluctuations occurring in currency, current rates of interest, political stability, the policies of government and local plus global demand and supply.
As for demand and supply, when demand for gold rises up, the prices responds by going up. In the global scenario, during the global economic lows, investors have tended to turn to gold investments.
In India, gold has significant value because of its role in important festivals and weddings and its cultural value and investment value. The gold rates are different in cities across India because of the difference in taxes and demand and supply for the yellow metal.
| City | Price of 22 Carat Gold | Prices of 24 Carat Gold |
| Gurugram | 55,000 | 60,000 |
| Mumbai | 54,000 | 59,840 |
| Kolkata | 54,850 | 59,840 |
| Lucknow | 55,000 | 60,000 |
| Bengaluru | 54,850 | 59,840 |
| Patna | 54,000 | 59,890 |
| Jaipur | 55,000 | 60,000 |
| Hyderabad | 54,850 | 59,840 |
| Bhubaneshwar | 54,850 | 59,840 |
(Data: Groww.com)
