Gold Prices: Check Today's 22 Carat Rates Across Cities

New Delhi, August 22, 2023

In an exciting turn of events, the gold market in India has witnessed a significant rise in prices. Today, we bring you the most up-to-date information on gold rates across various cities in India.

The Golden Figures:

As of August 22, the Gold  prices of 10 grams of gold in India stands at approximately Rs 59,000 in several cities. To break it down, 10 grams of 24-carat gold is priced at Rs 59,130, while the same quantity of 22-carat gold carries a price tag of Rs 54,200. In contrast, silver is valued at Rs 73,500 per kilogram.

Gold Prices in City Glitters:

Let’s take a look at the Gold  prices rends in some major cities:

  • Delhi Gold Sparkle: In the heart of the nation, Delhi, 22-carat gold is priced at Rs 54,300 for 10 grams. For those seeking the 24-carat shine, the cost is Rs 59,220 for the same quantity.
  • Chennai’s Gold Elegance: Down south in Chennai, 22-carat gold radiates at Rs 54,550 per 10 grams. The dazzling 24-carat gold, on the other hand, captures attention at Rs 59,500 for the same amount.

Golden Rates Across Cities (per 10 grams):

Here’s a glimpse of gold prices in various cities:

City22 Carat Gold24 Carat Gold
MumbaiRs 54,200Rs 59,130
GurugramRs 54,300Rs 59,220
KolkataRs 54,200Rs 59,130
LucknowRs 54,300Rs 59,220
BengaluruRs 54,200Rs 59,130
JaipurRs 54,300Rs 59,220
PatnaRs 54,100Rs 59,020
BhubaneshwarRs 54,200Rs 59,130
HyderabadRs 54,200Rs 59,130

Gold Prices Market Insights:

On this dynamic day, the Multi Commodity Exchange has witnessed gold futures maturing on October 05, 2023, trading at Rs 58,510. Silver, with maturity set for September 05, is valued at Rs 71,688.

Factors at Play:

A series of factors dance together to influence gold rates in India:

  1. Demand and Supply: The delicate balance between demand and supply orchestrates the gold rates. When the demand for gold rises, so do the rates. Conversely, a surge in gold supply can lead to lower rates.
  2. Global Economic Landscape: The global economic scenario also plays a starring role in determining gold rates. During global economic uncertainties, investors often turn to gold as a safe haven, causing rates to climb.
  3. Political Impact: The world of politics is no stranger to affecting gold rates. Instances of political turmoil drive investors towards gold as a hedge against uncertainty, leading to a rate increase.

A Touch of Tradition:

Gold  prices  in India isn’t just about numbers; it’s woven into the cultural fabric. Its significance spans from cultural rituals to investments and celebrations. The retail price of gold in India takes into account global gold prices, currency exchange rates, and the intricacies of crafting gold jewelry.

FAQ: Gold Price Surge in India – August 22, 2023

1. What is the current retail price of 10 grams of gold in India on August 22, 2023?

  • The retail price of 10 grams of gold in India stands at approximately Rs 59,000.

2. What is the price of 10 grams of 24-carat gold on this date?

  • 10 grams of 24-carat gold is priced at Rs 59,130.

3. How much does 10 grams of 22-carat gold cost on August 22, 2023?

  • 10 grams of 22-carat gold carries a price tag of Rs 54,200.

4. What is the value of silver per kilogram on this day?

  • Silver is valued at Rs 73,500 per kilogram.

5. How much does 22-carat gold cost in Delhi and Chennai?

  • In Delhi, 22-carat gold is priced at Rs 54,300 per 10 grams, while in Chennai, it is Rs 54,550.

6. What is the price of 24-carat gold in Delhi and Chennai?

  • For 24-carat gold, customers have to pay Rs 59,220 per 10 grams in Delhi and Rs 59,500 per 10 grams in Chennai.

7. What are the gold prices in various cities across India?

  • The gold prices per 10 grams in different cities include: Mumbai (Rs 54,200), Gurugram (Rs 54,300), Kolkata (Rs 54,200), Lucknow (Rs 54,300), Bengaluru (Rs 54,200), Jaipur (Rs 54,300), Patna (Rs 54,100), Bhubaneshwar (Rs 54,200), and Hyderabad (Rs 54,200).

8. How are gold futures performing in the Multi Commodity Exchange on October 05, 2023?

  • Gold futures maturing on October 05, 2023, are trading at Rs 58,510.

9. What is the value of silver futures maturing on September 05, 2023?

  • Silver, maturing on September 05, is valued at Rs 71,688.

10. What factors influence the gold rates in India?

Gold rates are influenced by factors like demand and supply dynamics, global economic conditions, inflation rates, currency fluctuations, and political instability.

11. How does demand and supply affect gold rates?

– When the demand for gold increases, the rates tend to rise. Conversely, a surge in the supply of gold can lead to lower rates.

12. How does the global economic landscape impact gold rates?

– During times of global economic uncertainties, investors often turn to gold as a safe haven, causing rates to climb.

13. How does political instability affect gold rates?

Political turmoil or crisis in a major country can lead to an increase in gold rates, as investors seek to protect their assets by investing in gold as a hedge against uncertainty.

14. What are the key elements that influence the retail price of gold in India?

– The retail price of gold in India is influenced by factors such as the worldwide price of gold, currency exchange rates, and the expenses related to labor and materials in crafting gold jewelry.

15. Why is gold significant in India?

– Gold holds cultural significance, acts as an investment, and plays a traditional role in weddings and festivals in India.

16. What is the role of tradition in the Indian gold market?

– Gold’s significance in India spans across cultural rituals, investments, and celebrations, making it an integral part of the country’s heritage.

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