Retail prices for 10 grams of gold vary noticeably between cities as of October 21, with an average price of around Rs 61,000. To be more exact, 10 grams of 22-carat gold are sold for around Rs 56,600, whilst 10 grams of 24-carat gold are listed at approximately Rs 61,750. In addition, the cost of silver per kilogram is now Rs 74,100.
India’s retail gold price as of October 21
Delhi Gold Rate
For 10 grams of 22-carat gold in Delhi, buyers must spend Rs 56,550, and for the same weight of 24-carat gold, they must pay Rs 61,690.
Ahmedabad Gold Rate
The current going rate for 10 grams of 22-carat gold in Ahmedabad is Rs 56,450, while the going rate for 10 kilos of 24-carat gold is Rs 61,580.
Chennai Gold Rate
In Chennai, 10 grams of 22-carat gold sell for Rs 56,550, while the same weight of 24-carat gold costs Rs 61,690.
Check gold rates today in different cities on October 21, 2023; (In Rs/10 grams)
| CITY | 22 CARAT GOLD PRICE | 24 CARAT GOLD PRICE |
| Mumbai | 56,600 | 61,750 |
| Gurugram | 56,550 | 61,690 |
| Kolkata | 56,400 | 61,530 |
| Lucknow | 56,550 | 61,690 |
| Bengaluru | 56,400 | 61,530 |
| Jaipur | 56,550 | 61,690 |
| Patna | 56,450 | 61,580 |
| Bhubaneshwar | 56,400 | 61,530 |
| Hyderabad | 56,400 | 61,530 |
Multi-Product Exchange
On the Multi Commodity Exchange, gold futures with an expiration date of December 5, 2023, were being traded for Rs 60,725 as of October 20. Silver futures with the same maturity date, on the other hand, were valued at Rs 72,915.
The amount at which gold is offered for sale to customers domestically is known as the retail price. The cost of labor and materials required to make gold jewelry, as well as the price of gold on the world market and the value of the Indian rupee, all have an impact on the pricing.
The following variables may have an impact on the price of gold:
Supply and Demand: The dynamic interaction of supply and demand in the market is the main factor influencing the price of gold. Price increases are often accompanied by an increase in demand, whereas price declines are sometimes caused by an excess of gold supply.
Global Economic Conditions: The state of the general world economy has a significant effect on gold prices. Investors often choose gold as a safe haven during times of economic uncertainty or recession, driving up the price of the metal.
Political Unrest: Political unrest may also have a significant impact on gold prices. Investors may decide to safeguard their assets by investing in gold as a hedging strategy against uncertainty when there is political unrest or crisis in a large country or area. The price of gold may rise as a consequence of this increased demand.
Due to its cultural significance, financial potential, and customary use in weddings and celebrations, gold has great significance in India.
