On April 22, gold prices in India showed a marked increase, with the rate for 10 grams of gold stabilizing across various cities. Despite the fluctuations earlier in the week, the gold market demonstrated resilience, with 24-carat gold trading at around Rs 74,230 per 10 grams and 22-carat gold at approximately Rs 68,040. Alongside gold, silver prices also saw a rise, reaching Rs 86,400 per kilogram.
Current Gold Rates Across Major Indian Cities:
- Mumbai: The financial hub saw 22-carat gold priced at Rs 68,040 and 24-carat gold at Rs 74,230 for 10 grams.
- Delhi: The capital city reported 22-carat gold at Rs 68,200 and 24-carat at Rs 74,380 per 10 grams.
- Ahmedabad: Gold rates stood at Rs 68,100 for 22 carat and Rs 74,280 for 24 carat per 10 grams.
Additional City-Wise Gold Rates for April 22, 2024 (in Rs/10 grams):
| City | 22-Carat Gold Price | 24-Carat Gold Price |
|---|---|---|
| Chennai | 68,840 | 75,100 |
| Kolkata | 68,040 | 74,230 |
| Gurugram | 68,200 | 74,380 |
| Lucknow | 68,200 | 74,380 |
| Bengaluru | 68,040 | 74,230 |
| Jaipur | 68,200 | 74,380 |
| Patna | 68,100 | 74,280 |
| Bhubaneshwar | 68,040 | 74,230 |
| Hyderabad | 68,040 | 74,230 |
Commodity Exchange Insights:
On the Multi Commodity Exchange (MCX), gold futures for June 5, 2024, were actively traded at Rs 72,193 per 10 grams. Silver futures for May 3, 2024, were also dynamic, priced at Rs 82,346. These developments are keenly monitored by investors and traders amid ongoing market volatility.
Retail Gold Price Dynamics:
In India, the retail cost of gold is influenced by several factors beyond the basic metal value, reflecting the price paid by consumers. Gold’s cultural significance, its status as a valuable investment, and its role in various traditional festivities and weddings make it a central economic figure in India.
As gold rates continue to adjust, consumers and investors alike are advised to stay updated with the latest market trends and changes. This could be pivotal for making informed decisions in the buying and selling of precious metals in the country.
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