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Decline in Gold and Silver Price; Check Rate in Tier-1 Cities

A salesman shows gold necklaces to a customer at a jewellery showroom. (Image used for representation)

A salesman shows gold necklaces to a customer at a jewellery showroom. (Image used for representation)

The price of 10 grams of 22-carat gold is at Rs 48,250 while the same quantity of the higher quality gold, that is 24-carat gold, can be bought at Rs 49,250 on Thursday.

After decreasing yesterday, the price of gold in India continues to drop. There is a decrease of Rs 50 per 10 grams in the prices of both the qualities of gold. The price of 10 grams of 22-carat gold is at Rs 48,250 while the same quantity of the higher quality gold, that is 24-carat gold, can be bought at Rs 49,250 on Thursday, according to Good Returns. The gold prices are sourced from some of the reputed jewellers of the country.

The precious yellow metal is priced in Mumbai at the same price with 10 grams of 22-carat gold available at Rs 48,250 and the rate of the same quantity of 24-carat gold is Rs 49,250. In Delhi, the price of 10 grams of 22-carat gold has decreased by Rs 710 and it now costs Rs 48,050. The decrease in the price of 24-carat gold is of Rs 770. The rate is Rs 52,420 per 10 grams.

Similarly in Chennai, the prices have dropped today significantly. There is a decrease of Rs 620 in the price of 10 grams of 22-carat gold. It can be bought at Rs 46,220 in Chennai. The price of 10 grams of 24-carat gold has decreased by Rs 680 in Chennai. The yellow metal can now be bought at Rs 50,420 in the city.

Internationally, the gold spot price per ounce has decreased by USD 0.90. Today, the price is USD 1,835.50. The performance of gold in the last 30 days has decreased by 2.25 percent, which means a fall of USD 42.20.

Silver price has decreased by Rs 10 per 10 grams and can be bought at Rs 634. In cities like Mumbai, Delhi and Kolkata, silver is available for Rs 63,400 per kilogram while in Chennai, it is priced at Rs 66,800 for the same quantity.

first published:December 11, 2020, 09:49 IST