Slight Increase in Gold Price as Rate of Silver Remains Unchanged
Following the global trends, the February gold futures fell 0.42 percent to Rs 48,760 per 10 gram, and silver futures have decreased to 0.5 percent to reach Rs 63,914 per kilogram on Monday.
According to Good Returns, the price of 22-carat gold on January 11 in India has increased by Rs 10 to Rs 48,480 per 10 grams. The same quantity of the higher quality of gold, 24-carat purity, can be bought at Rs 49,480.
In Delhi, the price of gold has increased to Rs 48,470 for 10 grams of 22-carat gold, while 24-carat gold can be purchased at Rs 52,870 per 10 grams. As compared to Delhi, the price of gold in Kolkata is lower. It can be bought at Rs 48,820 per 10 grams for 22-carat gold and Rs 51,520 for 10 grams of 24-carat gold.
The gold rate in Chennai is less as compared to the other major cities for 22-carat gold. Ten grams of the same can be purchased for Rs 47,020 today, while the same quantity of 24-carat gold is available at Rs 51,290.
Today, the subscription of the sovereign gold bond issue will open. The price of the precious yellow metal has been fixed at Rs 5,104 per gram by the government.
Internationally, the gold spot price has fallen by USD 18.60 (1.01 percent) and now stands at USD 1,831.90 per ounce. Over the last 30 days, the decline in the gold spot price has been 0.47 percent, which is equivalent to USD 8.60.
The silver price has remained unchanged today on January 11, with 10 grams of the metal priced at 639. In major cities like Mumbai, Delhi, Kolkata, one kilogram of the metal is priced at Rs 63,900. However, in Chennai and Hyderabad, silver costs more than the national average. One can purchase at Rs 69,000 per kilogram.