The price of 24-carat gold on Friday went down by Rs 1,900, from Rs 50,750 per 10 gram to Rs 48,850 per 10 gram, according to Good Returns. On the other hand, 22-carat gold price today stands at Rs 47,850 per 10 gram. On Thursday, 22-carat gold cost Rs 49,750 per 10 gram.
In Delhi and Mumbai, 24-carat gold today is coming at a price of Rs 51,990 per 10 gram and Rs 48,850 per 10 gram, while the prices of 22-carat gold stand at Rs 47,660 per 10 gram and Rs 47,850 per 10 gram. In Chennai, 22-carat and 24-carat gold cost Rs 46,130 per 10 gram and Rs 50,310 per 10 gram, respectively.
In Kolkata and Bangalore, 22-carat gold costs Rs 50,090 pr 10 gram and Rs 45,610 per 10 gram, while 24-carat gold can be purchased at Rs 52,490 per 10 gram and Rs 49,760 per 10 gram. In Kerala, 22-carat and 24-carat gold is coming at a price of Rs 45,610 per 10 gram and Rs 49,760 per 10 gram.
The prices of 22-carat and 24-carat gold in Ahmedabad stand at Rs 48,230 per 10 gram and Rs 50,230 per 10 gram.
Gold price in August touched a high of Rs 56,200 per 10 gram ,and now the price has come down by almost Rs 7,000. Domestic spot gold yesterday closed at Rs 48,972 per 10 gram.
On Multi Commodity Exchange (MCX), gold futures traded 0.16 per cent higher, reaching Rs 48,592. On Thursday, the price of precious metal was standing at $1,815 per ounce.
Meanwhile, the price of a kilogram of silver has risen by Rs 50, from Rs 60,000 to Rs 60,050. Yesterday, domestic spot silver closed at Rs 60, 260 per kilogram. On MCX, silver traded 0.11 per cent higher at Rs 59,906.
Investors usually resort to gold buying when there exists uncertainty in the market. Gold prices may have been witnessing a decline because the economy is recovering from COVID-19 shock.
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