Gold prices in India experienced a notable decline on April 20, following a prolonged period of upward movement driven by Iran-Israel geopolitical tensions. The initial price for 10 grams of gold was recorded at Rs 74,240, with pure gold (24-carat) trading at approximately the same rate, while 22-carat gold stood at Rs 68,050 per 10 grams.
Conversely, the silver market displayed an upward trend, reaching Rs 86,500 per kilogram.
Gold Rate Today in Major Indian Cities:
Mumbai: In Mumbai, the price of 10 grams of 22-carat gold is Rs 68,050, while the equivalent amount of 24-carat gold is valued at Rs 74,240.
Delhi: As of April 18, 2024, 10 grams of 22-carat gold in Delhi is priced at approximately Rs 68,210, with 24-carat gold standing at around Rs 74,390.
Ahmedabad: In Ahmedabad, the rate for 10 grams of 22-carat gold is Rs 68,110, while 10 grams of 24-carat gold is priced at Rs 74,290.
The Multi Commodity Exchange (MCX) remained closed on April 20, 2024, as is customary on Saturdays and Sundays.
Factors Influencing Gold Prices:
The retail price of gold in India, influenced by various factors, reflects the final cost per unit weight paid by consumers. Market forces, global economic dynamics, and political uncertainty all play significant roles in determining gold prices. The precious metal holds cultural significance in India and serves as a valuable investment and traditional element in weddings and festivals. Therefore, fluctuations in gold prices are closely monitored and can impact consumer behavior and market trends.
