The current price of gold in India varies by city, but as of October 6, 2024, it stands at 7,120 per gram for 22-karat gold and 7,767 per gram for 24-karat gold in major cities like Delhi, Mumbai, and Chennai.
2. How much has the price of gold increased in the past week?
In the past week, the price of gold has increased by 270 per 10 grams. For example, in Delhi, the price of 24-karat gold rose from 77,633 per 10 grams on October 4 to 77,853 per 10 grams on October 5.
3. What is the current price of silver in India?
As of October 6, 2024, the price of silver in India is 97 per gram and 97,000 per kilogram in major cities.
4. How do geopolitical events affect gold prices?
Geopolitical events, such as conflicts or diplomatic issues, can increase demand for gold as a safe investment, pushing its price. For instance, the Middle East conflict has supported safe-haven demand for gold.
5. What are the city-wise prices of gold and silver in India?
The prices of gold and silver vary by city. In Mumbai, the price of 24-karat gold is 7,767 per gram, while in Chennai, it is 7,767 per gram. The price of silver in Mumbai is 97,000 per kilogram, and in Chennai, it is 1,03,000 per kilogram.
6. How do currency fluctuations affect precious metal prices?
Currency fluctuations significantly affect precious metal prices. A stronger or weaker U.S. dollar can influence prices. For example, a stronger dollar might make gold more expensive for holders of other currencies, potentially reducing demand.
7. What factors determine the trends in gold and silver prices?
The trends in gold and silver prices are determined by several factors, including global demand, geopolitical events, and economic factors like inflation and interest rates. Additionally, the value of the rupee against the dollar plays a crucial role in determining the prices of precious metals.
