Ten grams of gold cost different amounts in different Indian cities on December 03, 2023, but on average it cost about Rs 62,000. In other words, 10 grams of 24-carat gold was worth about Rs 63,760, whereas 10 grams of 22-carat gold was worth Rs 58,450. The price of silver was Rs 80,500 per kilogram at the time.
Indian gold rate as of right now: December 3 retail gold price
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Ten grams of 22-carat gold costs Rs 58,600 in Delhi, while the same amount of 24-carat gold costs Rs 63,910.
Ten grams of 22-carat gold currently cost Rs 58,450 in Mumbai, while the same quantity of 24-carat gold costs Rs 63,760.
Ten grams of 22-carat gold costs Rs 59,150 in Chennai, while the same amount of 24-carat gold costs Rs 64,530.
Gold futures with an expiration date of February 5, 2024, were trading at Rs 63,355 on the Multi Commodity Exchange on December 1. At Rs 77,965, silver futures with an expiration date of March 5, 2024, were trading.
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The amount of gold sold to consumers nationwide is known as the retail price. The value of the Rupee, the cost of labour and materials used to make gold jewellery, and the price of gold globally all have an impact on this price.
Due to its historical significance in Indian culture, investment potential, and marriage and festival customs, gold is highly valued.
Supply and Demand: The price of gold is primarily determined by the quantity available and the level of demand for it. Gold typically rises in price as demand grows. Nevertheless, the price may drop if there is an excess of gold on the market.
Global Economic Conditions: Gold prices are significantly influenced by the state of the world economy as a whole. Gold’s price rises because investors frequently choose it as a safe investment during recessions or weak global economies.
Political Unrest: Political unrest can have an impact on gold prices. A crisis or unpredictability in a major nation or area may lead investors to decide to hedge their money with gold investments. The increased demand for gold may result in a price increase.
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