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Gold Prices See a Slight Increase After Sharp Fall for Three Days, Dip in Silver Rates

A firmer dollar makes bullion more expensive for holders of other currencies.

(Representative Image)

A firmer dollar makes bullion more expensive for holders of other currencies. (Representative Image)

As the gold prices jump by Rs 10 per 10 grams today, one can avail the 24 carat purity metal in India at Rs 50,010, while one will have to pay Rs 49,010 for purchasing 22 carat version.

After witnessing a sharp fall for three consecutive days, gold prices in India have seen a slight increase of Re 1 per gram on Thursday, September 24. The rates of the yellow metal went below Rs 50,000 on Wednesday, as the prices dipped by Rs 630 per 10 grams on September 23.

The prices dropped by Rs 690 and Rs 190 on Tuesday and Monday, respectively.

As the gold prices jump by Rs 10 per 10 grams today, one can avail the 24 carat purity metal in India at Rs 50,010, while one will have to pay Rs 49,010 for purchasing 22 carat version.

The rate of gold in each city in India stands different, subject to the availability of the metal and the market rates. For Delhi, the price stands at Rs 49,010 for 10 grams for 22 carat gold, while 24 carat gold is available at Rs 53,470, slightly expensive than the average rate in India.

The rates for purchasing 22 carat gold in different cities are given here:

Chennai: Rs 48,110

Mumbai: Rs 49,010

Kolkata: Rs 49,380

Bangalore: Rs 47,510

Kerala: Rs 46,510

Jaipur: Rs 49,010

24 carat gold is available for Rs 52,480 in Chennai, Rs 50,010 in Mumbai, Rs 52,080 in Kolkata and Rs 50,770 in Kerala.

The prices of the domestic gold futures fell consecutively for three days as the US dollar continued to strengthen in the global market. On Wednesday, the Multi Commodity Exchange gold futures tanked Rs 721 or 1.43 per cent, while Comex gold futures fell below the $1,900 per ounce.

Meanwhile, the silver rates in India stands at Rs 58,500 on Thursday per 1 kg, after the prices saw a dip of Rs 500. The price of silver has been witnessing a continuous dip for almost more than a week now.

first published:September 24, 2020, 13:08 IST