Gold futures were trading at Rs 54,777 on Multi Commodity Exchange (MCX) India today, up 0.03 per cent, at Rs 54,777 till 10:25 am. On the other hand, silver futures were trading at Rs 69,030 with a gain of 0.02 per cent. In the retail market, the precious yellow metal was trading at Rs.54,600 for 10 grams of the 24 carat type on Thursday, December 29. There was a decline of Rs 100 from the previous record level on Wednesday. Gold of 22-carat variety was selling at Rs.50,050 per 10 grams, also declining by Rs.100. Silver prices also declined by over Rs 2,000 per kg from yesterday. On December 29, the price of one kg of silver was Rs 70,300.
The cost of gold in Chennai was the highest among all metros in India. On Thursday, 24K gold was priced at Rs 55,580 for 10 grams, while 22K gold was priced at Rs 50,950 for the same amount. The price for 10 grams of the 24 carat variety in Delhi is Rs 54,750 to the consumer. On December 29, the price of 22 carat gold here was Rs 50,200. The price of 24K gold in Bengaluru was Rs 54,650 and that of 22K gold was Rs 50,100. Whereas in Kolkata, Hyderabad and Mumbai, 24 carat gold was being sold at Rs 54,600 and 22 carat gold at Rs 50,050 on Thursday. These cities also had the lowest gold rates among all major Indian metros. The price of ten grams of 22 carat gold was Rs 49,950 while the same quantity of 24 carat gold was being sold for Rs 54,480.
gold prices India The taxes levied by state governments on the purchase of this precious commodity vary from state to state in India. Additionally, gold jewelry also costs more than retail prices due to the additional making charge, which is a store levy on finished items.
Dollar-based bullion, often considered a strong hedge against inflation, is one of people’s top investment choices, given its status as an appreciating asset. However, in recent days, gold prices have taken some strong hits with interest rates in the US rising by several basis points and reducing the appeal of non-yielding assets.
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