Gold Rate Today In India: On September 12th, the retail price of 10 grams of gold in different cities throughout India is approximately Rs 60,000. To provide a more detailed breakdown, 10 grams of 24-carat gold are priced at Rs 59,830, while the same quantity of 22-carat gold can be acquired for Rs 54,840. The cost of silver stands at Rs 74,000 per kilogram.
Also Read: Sovereign Gold Bonds Series II Opens for Subscription Today: Check Price, Discount, Eligibility, Interest Rate, Tax
September 12 retail gold rate (See table below)
Delhi Gold Rate Today
In Delhi, 22 carat gold was priced at Rs 54,990/10 gram. For 24 carat, customers have to pay Rs 59,990/10 grams.
Ahmedabad Gold Rate
The retail price of 22-carat gold in Ahmedabad is Rs 54,890 per 10 grams and the rate of 24-carat gold is Rs 59,880 per 10 grams. This article will be updated if the prices change during the day.
Chennai Gold Rate
22 carat gold is Rs 55,150/10 grams in Chennai. Similarly, Tamil Nadu’s capital city has Rs 60,160 per 10 grams retail price of 24 carat gold.
Check gold rates today in different cities on September 12, 2023; (In Rs/10 grams)
On September 12, on Multi Commodity Exchange, gold futures maturing on October 05, 2023 were trading at Rs, 58,970. On the other hand, Silver, maturing on December 05, was at Rs 72,175.
Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.
Here are several factors that can influence the price of gold:
Supply and Demand: The gold price is primarily shaped by the interplay of supply and demand in the market. When demand for gold increases, the price tends to go up. Conversely, a surge in the supply of gold can lead to a decrease in the price.
Global Economic Conditions: Global economic conditions also wield a significant influence on the price of gold. During periods of global economic downturns, investors often turn to gold as a safe haven, causing the price to rise.
Political Instability: Additionally, political instability can impact the price of gold. When there is political turmoil or crisis in a major country, investors may seek to safeguard their assets by investing in gold as a hedge against uncertainty, resulting in a higher gold price.
Moreover, the retail price of gold in India represents the cost at which gold is sold to consumers within the country. This price is affected by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labor and materials used in crafting gold jewelry.
Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.
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