In the budget 2021, the customs duty on both gold and silver has decreased to 7.5 percent. With this change, the gold price has decreased by Rs 1,400 for both the qualities of the metal. In India, the price of 10 grams of 22-carat gold currently is Rs 46,600 while 24-carat gold is priced at Rs 47,600. The prices of gold in all other major cities as well like Mumbai, Delhi, Chennai and Kolkata have also reduced.
According to Good Returns, in Mumbai, the price of 22-carat gold is Rs 46,600 per 10 grams while 24-carat gold costs Rs 47,600 for the same quantity after a decrease of Rs 1,400 in the rate.
The price of gold has decreased by Rs 460 for 10 grams of 22-carat gold and now costs Rs 44,830 in Chennai. If you are going to purchase 10 grams of 24-carat gold in the city, then you will be investing Rs 48,900.
For those investors who are in India’s capital Delhi, the good news is that the price of 10 grams of 22-carat gold has decreased by Rs 400 and it now costs Rs 46,500. The price of 24-carat gold has further reduced by Rs 430 and now costs Rs 50,730 in the city.
In West Bengal’s Kolkata, the rate of gold has dipped on February 5. There is a decrease of Rs 1,020 per 10 grams for both the qualities of the precious yellow metal. For purchasing 10 grams of 22-carat gold, you will be spending Rs 47,050 while the same quantity of 24-carat gold can be bought for Rs 49,750.
Internationally, the price of gold has increased by USD 1.60. It now stands at USD 1,795.50 per ounce. However, in the last 30 days, gold has not performed well as there has been a decrease of USD 155 in its price.
Silver price has also decreased by Rs 10 per 10 grams. On February 5, the metal costs Rs 680 per 10 grams and in most major cities, it can be purchased for Rs 68,000 per kilogram.