Retail Gold Price: Gold hovers around Rs. 7,344 / 10 gms in major cities across India

Retail Gold price today on June 20, 2024

In a significant market shift, gold prices have experienced a notable decline across key Indian cities, with rates for 24 karat purity settling around the Rs. 7,344 per 10 grams mark in most markets.

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Retail Gold price today: Mumbai, Delhi, Bengaluru, Ahmedabad

Delhi currently tops the list with the highest rate for 24K gold at Rs. 7,345.1 per 10 grams.

The financial capital Mumbai and the western city of Ahmedabad are both quoting identical rates of Rs. 7,344.3 per 10 grams for 24 karat gold. Bengaluru trails slightly behind with a rate of Rs. 7,344.2 per 10 grams.

Retail Gold price today: Ahmedabad, Chennai, Kolkata and other major cities

Chennai offers the most competitive rate among major southern cities, with 24K gold priced at Rs. 7,344.0 per 10 grams. However, it’s the northern city of Lucknow that currently presents the most attractive rate for gold buyers at Rs. 7,343.9 per 10 grams.

In the western region, Kolkata is trading at Rs. 7,344.5 per 10 grams.

This sudden dip in gold prices comes as a surprise to many, considering the recent bullish trend in the precious metals market. Market analysts attribute this correction to various factors, including a strengthening US dollar, improving global economic outlook, and profit-booking by investors.

Jewelers across the country are closely monitoring these developments, hoping that the lower prices might stimulate demand and boost sales, which had been somewhat subdued due to the previous high rates.

Note: The retail gold prices are derived from benchmark rates in major bullion markets, with factors like local taxes, making charges, and premiums by jewellers influencing the prices across different cities.

Industry experts suggest tracking retail rates closely, as gold prices often fluctuate based on global cues, currency movements, and demand-supply dynamics in the domestic market.