Gold prices increased by ₹30 per gm on Sunday. According to the website Goodreturns, one gramme of 22K and 24K gold cost ₹5,710 and ₹6,229 respectively.
‘K’ or carat is a term used to measure the purity of gold. A 24K gold is called pure gold because it has 99 per cent purity. It is in liquid form and does not carry traces of other metals. A 22K gold contains traces of metals like copper and zinc and is used to make jewellery.
Here are the gold prices for major cities on Sunday November 26, 2023.
Gold prices are determined on several factors including currency, government policies and demand. If the Indian rupee slides against US dollar, the gold price will increase.
The price of gold is also dependent on international factors like global economic growth, dollar strength against other currencies etc. Another important factor is the demand for the precious metal. If the demand for gold is not robust, the prices will fall.
Silver prices increased by Re 1 on Sunday. According to the website Goodreturns, the price of one gramme of silver stood at ₹77.20. In India, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increases, the silver price will also increase.
In Delhi, Mumbai and Kolkata, the price of 10 gms of silver stood at ₹772. In Bengaluru and Chennai, 10 gms of silver were priced at ₹762.50 and ₹802 respectively.