Gold and Silver Prices Fall: Impact on Indian Markets
Today's market saw a slight drop in gold and silver prices in India, with rates settling at around ₹1.47 lakh for 24-carat gold and ₹2.31 lakh per kilogram of silver.
Highlights
- •- Gold Rates Decline by ₹2,000 to ₹1.47 lakh per 10 grams
- •- Silver Prices Drop by ₹3,000 to ₹2.31 lakh per kilogram
- •- Dips Recorded in Various Indian Cities including Delhi, Mumbai, and Kolkata
- •- Localized Variations Impact Gold and Silver Rates Nationally
Today witnessed a small but notable decline in precious metals prices across the country. As per the latest update by the India Bullion and Jewellers Association (IBJA) on April 7, gold rates registered a decrease of ₹2,000 to settle at ₹1.47 lakh per 10 grams. This follows a steady period where the price had hovered around ₹1.49 lakh. Simultaneously, silver saw a more significant drop of ₹3,000, bringing its rate to ₹2.31 lakh per kilogram.
In intraday trading on the Multicommodity Exchange (MCX), gold futures prices fell by ₹350 to reach ₹149,625. Meanwhile, MCX silver prices dipped by around ₹1,600 in early trade, settling at ₹2,31,800 per kilogram. Further north, Singapore's gold pricing declined by 0.5% to $4,627 per ounce over the two trading sessions.
Gold and Silver Rates by Karat
The fall was notable across various karats of both metals:
- 24 Karat Gold: ₹1,47,489 / 10 grams
- 22 Karat Gold: ₹1,35,100 / 10 grams
- 18 Karat Gold: ₹1,10,617 / 10 grams
- 14 Karat Gold: ₹86,281 / 10 grams
The changes in base purity gold rates are as follows:
- 995 Purity (24 Karat): ₹146,898 per 10 grams
- 916 Purity: ₹135,100 per 10 grams
- 750 Purity: ₹110,617 per 10 grams
- 585 Purity (22 Karat): ₹86,281 per tola
The localized rates vary across major Indian cities:
Gold Prices in Major Indian Cities
In Delhi:
- 24 Carat Gold Rate: ₹150,800 / 10g
- 22 Carat Gold Rate: ₹138,240 / 10g
- 18 Carat Gold Rate: ₹113,130 / 10g
In Mumbai:
- 24 Carat (10g): ₹150,650
- 22 Carat (10g): ₹138,090
- 18 Carat (10g): ₹112,980
In Kolkata:
- 24 Carat: ₹150,650 / 10g
- 22 Carat: ₹138,090 / 10g
- 18 Carat: ₹112,980 / 10g
In Chennai:
- 24 Carats (10g): ₹152,630
- 22 Carats (10g): ₹139,910 / 10g
- 18 Carats: ₹116,710 / 10g
In Bangalore:
- 24 Karat: ₹150,650 / 10g
- 22 Karat: ₹138,090 / 10g
- 18 Karat: ₹112,980 / 10g
In Hyderabad:
- 24 Carats (10g): ₹150,650
- 22 Carats (10g): ₹138,090
- 18 Carats: ₹112,980 / 10g
In Lucknow:
- 24 Karat (10g): ₹150,800
- 22 Karat (10g): ₹138,240 / 10g
- 18 Carat (10g): ₹113,130 / 10g
In Patna:
- 24 Karats: ₹150,700 / 10g
- 22 Karat: ₹138,140 / 10g
- 18 Karat (10g): ₹113,030
