Gold Rate Today in India: Check Gold Prices in Different Cities on September 20, 2023
India, being the largest importer of gold, mainly caters to the demand of the jewelry industry. As of September 20th, the retail rates for 10 grams of gold vary across various cities, with an approximate price of Rs 60,000. To provide a more comprehensive breakdown, 10 grams of 24-carat gold are currently valued at Rs 60,230, while the same quantity of 22-carat gold can be obtained for Rs 55,210. Furthermore, the current price of silver is Rs 74,800 per kilogram.
Delhi Gold Rate Today
In Delhi, 22-carat gold is priced at Rs 55,360/10 grams, while customers have to pay Rs 60,290/10 grams for 24-carat gold.
Ahmedabad Gold Rate
The retail price of 22-carat gold in Ahmedabad is Rs 55,260 per 10 grams, and the rate of 24-carat gold is Rs 60,280 per 10 grams. This article will be updated if the prices change during the day.
Chennai Gold Rate
In Chennai, 22-carat gold is priced at Rs 55,510/10 grams, while the retail price of 24-carat gold is Rs 60,560 per 10 grams.
Check Gold Rates Today in Different Cities on September 20, 2023; (In Rs/10 grams)
City 22 Carat Gold Price 24 Carat Gold Price
Mumbai 55,210 60,230
Gurugram 55,360 60,290
Kolkata 55,210 60,230
Lucknow 55,360 60,290
Bengaluru 55,210 60,230
Jaipur 55,360 60,290
Patna 55,260 60,280
Bhubaneshwar 55,210 60,230
Hyderabad 55,210 60,230
On September 20, on Multi Commodity Exchange, gold futures maturing on October 05, 2023, were trading at Rs 59,219. Silver, maturing on December 05, was at Rs 72,214.
Gold prices in India are generally influenced a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.
Here are several factors that can influence the price of gold:
1. Supply and Demand: The gold price is primarily shaped the interplay of supply and demand in the market. When demand for gold increases, the price tends to go up. Conversely, a surge in the supply of gold can lead to a decrease in the price.
2. Global Economic Conditions: Global economic conditions also wield a significant influence on the price of gold. During periods of global economic downturns, investors often turn to gold as a safe haven, causing the price to rise.
3. Political Instability: Additionally, political instability can impact the price of gold. When there is political turmoil or a crisis in a major country, investors may seek to safeguard their assets investing in gold as a hedge against uncertainty, resulting in a higher gold price.
Moreover, the retail price of gold in India represents the cost at which gold is sold to consumers within the country. This price is affected various factors, including the global gold price, the value of the Rupee, and the expenses associated with labor and materials used in crafting gold jewelry.
Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.
About the Author:
Namit Singh Sengar is a Senior Sub-Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands, and the economy. For more articles Namit Singh Sengar, visit his author page.