Gold prices in India touch record high of ₹97,460/10g
What's the story
Gold prices in India touched an all-time high today, rising by ₹1,000.
The price of 22K gold touched ₹89,350 per 10g, while that of 24K gold hit ₹97,460 for 10g in Delhi. The rise is attributed to tariff uncertainties impacting the market.
Meanwhile, prices of silver remained stable around ₹1 lakh per kg.
Market trends
Gold's enduring appeal and price variations
The 24K gold, which is extremely pure, still draws buyers looking for the best.
On the other hand, 22K gold is preferred by jewelry lovers and investors for its durability and timelessness.
Gold prices differ across major Indian cities owing to local demand-supply dynamics.
In Ahmedabad and Patna, for example, 22K gold costs ₹89,240/10g while the purer variant is priced at ₹97,360/10g.
Price determinants
Factors influencing gold prices in India
The price of gold in India is mainly determined by international market rates, taxes, import duties, and changes in exchange rates.
These factors together determine the daily gold rates across the country.
Gold is culturally and financially significant in India as a favored investment option for occasions such as weddings and festivals.