Gold rates decreased by ₹10 per gram on Saturday as compared to Friday’s price. According to website Goodreturns, the price of 22 carat gold stood at ₹5,580 per gram. On the other hand, the price of 1 gm of 24 carat gold stood at ₹6,087, a dip by ₹11 as compared to Friday’s rate.
In the national capital, the price of 10 gms of 24 carat and 22 carat gold stood at ₹61,020 and ₹55,950 respectively. In maximum city Mumbai, 22 carat gold is worth ₹55,850 per 10 gms while that of 10 gms 24 carat gold is ₹60,870.
The purity of gold is denoted by ‘K’ which means carat. A 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc.
Here are the gold rates in other Indian cities on April 8, 2023.
Gold rates in India are decided through several factors including global demand, government policies and currency. In case the Indian rupee slides against US dollar, the price of gold will increase.
The price of silver remained unchanged on Saturday. In India, the rates of silver are determined by factors including industrial demand, gold rates, inflation etc. If the price of gold increases, the silver price will also increase. The industrial firms use silver for production of various commodities like jewellery, coins, medals etc.Also, it is easier to influence the silver market through large trades and purchases.