Gold buyers received good news on March 25 as the price of gold dropped. On Tuesday, the price of 24-carat gold saw a decline, with 10 grams priced at Rs 89,610. In addition, 22-carat gold, a popular choice among jewellers due to its durability, was valued at Rs 82,140 per 10 grams.
The price of silver also witnessed a fall, now standing at Rs 1,00,900 per kilogram, according to Good Returns.
Across major cities like Mumbai, Kolkata, Chennai, and Hyderabad, the price of 10 grams of 24-carat gold is consistent at Rs 89,610. In Delhi, however, the price for the same amount is slightly higher at Rs 89,760.
As for 22-carat gold, the price of 10 grams in Mumbai is Rs 82,140, which is the same in Kolkata, Bengaluru, Chennai, and Hyderabad. In Delhi, the price of 10 grams of 22-carat gold is slightly higher at Rs 82,290.
When it comes to silver, the price remains the same across Delhi, Mumbai, and Kolkata at Rs 1,00,900 per kilogram. However, in Chennai and Hyderabad, the price of silver has risen to Rs 1,09,900 per kilogram.
Gold Price Across Major Cities
| City | 22-Carat Gold (10 gm) | 24-Carat Gold (10 gm) | Silver (Rs/kg) |
|---|---|---|---|
| Delhi | Rs 82,290 | Rs 89,760 | Rs 1,00,900 |
| Noida | Rs 82,290 | Rs 89,760 | Rs 1,00,900 |
| Lucknow | Rs 82,290 | Rs 89,760 | Rs 1,00,900 |
| Mumbai | Rs 82,140 | Rs 89,610 | Rs 1,00,900 |
| Bengaluru | Rs 82,140 | Rs 89,610 | Rs 1,00,900 |
| Chennai | Rs 82,140 | Rs 89,610 | Rs 1,09,900 |
| Pune | Rs 82,140 | Rs 89,610 | Rs 1,00,900 |
| Ahmedabad | Rs 82,190 | Rs 89,660 | Rs 1,00,900 |
| Kolkata | Rs 82,140 | Rs 89,610 | Rs 1,00,900 |
| Hyderabad | Rs 82,140 | Rs 89,610 | Rs 1,09,900 |
How Are Gold Prices Determined in India?
Gold prices in India are not solely determined by physical demand and supply but are heavily influenced by trading activities on global markets, such as the London OTC spot market and the COMEX gold futures market. Additionally, factors like global events, political developments, central bank policies, and currency fluctuations also play a significant role in influencing gold prices.
How to Check the Purity of Gold
To ensure the purity of gold, consider the following methods:
Look for a Hallmark: The most reliable way to verify gold purity is by looking for a hallmark. 22-carat gold, often referred to as 916 gold, will feature a hallmark stamp of “916.”
Check for the BIS Standard Mark: Jewelry should have a triangle with the letters “BIS” underneath, ensuring that it adheres to the Bureau of Indian Standards (BIS) purity requirements.
Perform an Acid Test: Under professional guidance, an acid test can be conducted, where nitric acid is applied to the gold to verify its purity.
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