New Delhi: Gold Price today in India (22 carat) has fallen to Rs 64,950 per 10 gram (gm) on Wednesday, July 24, 2024. The 24 carat gold price today stood at Rs 70,860 per 10 gm. On the other hand, the 18-carat yellow metal prices was quoted at Rs 53,140 per 10 gm. Silver price today in India fell sharply by Rs 500 per unit to Rs 87,500 per kg, according to data from Good Returns.
Albeit, in the US, spot gold price was up 0.3 per cent at $2,416.62 per ounce. Prices had scaled to an all-time high of $2,483.60 last week.
MCX Gold Rate
Gold price today (August 05 2024 futures contract) was up today 0.56 per cent to Rs 68,880 per 10 gm on the Multi Commodity Exchange (MCX). While, silver prices (September 05 2024 futures contract) were also up 0.38 per cent to Rs 85,240 per kg on the MCX today.
Gold and Silver prices in India today
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
65100
87500
Mumbai
64950
87500
Bengaluru
64950
88750
Chennai
64900
92000
Kolkata
64950
87500
Pune
64950
87500
Ahmedabad
65000
87500
Hyderabad
64950
92000
Source: Good Returns
Gold Price Fall Reason
The rise in fall in Gold prices is being attributed to the import duty cut announced in Budget 2024. On Tuesday, Finance Minister Nirmala Sitharaman proposed to sharply reduce import duty on gold and silver from 15 per cent to six per cent. As a result, prices of both the commodities fell around Rs 4,000 per kg. On Wednesday, the price correction continued in commodities.
On the import duty cut, Commerce and Industry Minister Piyush Goyal told news agency PTI that the government’s decision would help boost domestic manufacturing and promote jewellery exports from India.
“The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling,” Goyal told PTI. He added that the gold prices are high and the marriage season is coming and this move would help the people.
Gold & Silver Price Change in India
1 Week Ago
2024-07-02
1 Month Ago
2023-07-13
1 Year Ago
2023-07-13
Metal
Change (%)
Change (%)
Change (%)
Gold 24 Karat (Rs ₹/10gm)
-7.09
-3.88
+16.32
Silver 999 (Rs ₹/1kg)
-7.40
-4.56
+13.82
Source: https://bullions.co.in/
Gold Price in India (22 carat) stood at Rs 64,950 per 10 gram (gm) on Wednesday, July 24, 2024. Check prices in your city. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
