courtesy: india.com
Retail Gold price today on May 16, 2024
For those looking to invest in the precious metal or purchase gold jewelry, it’s important to be aware of the current market rates for gold across various cities in India. Gold prices can fluctuate based on factors like import costs, currency rates, and local taxes and duties.
As of recent market data, here are the latest 24 karat gold rates per 10 grams in some of India’s major metropolitan areas:
Retail Gold price today: Mumbai, Delhi, Bengaluru
In Mumbai, the rate is ₹7,546 per 10 grams. The financial capital of India sees a price of Rs ₹7,546 per 10 grams of 24 karat gold. As a major bullion hub, the rates here tend to be lower compared to some other metros. Many of India’s largest jewelers are headquartered in Mumbai, helping keep prices competitive.
Meanwhile, in Delhi the yellow metal is priced at the same ₹7,546 per 10 gram level in the nation’s capital of Delhi. The city’s rates are on par with Mumbai, given its status as a major corporate and economic center. Delhi houses some of India’s oldest and most reputable jewelers influencing local market pricing.
The IT hub of Bengaluru, gold carries a slight premium of ₹7,547 for every 10 grams. The city’s rising affluence and demand for the precious metal may allow jewelers to charge marginally higher rates here compared to the financial centers.
Retail Gold price today: Ahmedabad, Lucknow, Kolkata and other major cities
The going rate in Ahmedabad and neighbouring city Surat for 10 grams of 24K gold is ₹7,546.8, a few rupees higher than Mumbai and Delhi. As an industrial and economic center in Gujarat, the city sees relatively strong demand for gold products.
Chennai also has higher rates than Mumbai as it stood at ₹7,546.7 per 10 grams, which is majorly due to factors like import costs and local market forces in the Tamil Nadu capital.
Of the major metros, Kolkata has the highest price for gold at ₹7,547.4 per 10 grams. The city’s distance from major ports and bullion markets may contribute to the elevated rates compared to other regions.
In Lucknow, the cultural capital of Uttar Pradesh, gold is priced at ₹7,547.3 for every 10 grams of 24K purity. The rates are comparable to Kolkata, with both cities seeing a premium over the likes of Mumbai and Delhi.
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.
