Gold prices in India are generally influenced by various factors. (Representational Image)
Gold Price Today: The retail price of gold in Ahmedabad is Rs.56,700 (22 carat).
gold price in india today: On May 13 in India, the price of gold remained above 60 thousand rupees in many cities. 10 grams at around 10 am 24 carat gold was priced Rs 61,800 (Rs 61,690 yesterday). same amount of 22-karat variety Cost Rs 56,650 (Rs 56,550 yesterday). Whereas the price of silver was Rs 74,800 (Rs 75,000 yesterday) per kg.
As far as retail prices in different cities are concerned, 22 carat gold was at Rs 57,150 per 10 grams. Chennai, Similarly, the retail price of 24K gold per 10 grams in the capital city of Tamil Nadu is Rs 62,350 ( yesterday Rs 62,640). Coimbatore There are also similar prices for both the categories of gold.
(Reading: Gold prices rise as investors seek safety amid economic uncertainty,
On the other hand, the western city Ahmedabad The retail price of gold is Rs 56,700 (22 carat). The retail price of 24K gold in the city is Rs 61,850 per 10 grams.
Check Gold Rate in various cities on 13 May 2023; (in Rs/10 grams)
| City | 22 carat gold price | 24 carat gold price |
| Delhi | 56,800 | 61,950 |
| Mumbai | 56,650 | 61,800 |
| Kolkata | 56,650 | 61,800 |
| Lucknow | 56,800 | 61,950 |
| Bangalore | 56,700 | 61,850 |
| Jaipur | 56,800 | 61,950 |
| Patna | 56,700 | 61,850 |
| Bhubaneswar | 56,650 | 61,800 |
| Hyderabad | 56,650 | 61,800 |
On May 12, gold futures maturing on June 05, 2023, was trading at Rs 60,898 on the Multi Commodity Exchange. Whereas silver maturing on July 05 was at Rs 73,100.
Gold prices in India are generally influenced by a number of factors including global economic conditions, inflation rates, currency fluctuations and local demand and supply dynamics.
Meanwhile, India’s gold imports, which have a bearing on the current account deficit, are set to decline by 24.15 per cent to $35 billion in 2022-23 due to global economic uncertainties, according to commerce ministry data.
Imports of the yellow metal in 2021-22 stood at USD 46.2 billion.
However, silver imports increased by 6.12 per cent to $5.29 billion during the last financial year.
However, the sharp drop in gold imports has not helped reduce the country’s trade deficit – the difference between imports and exports. The merchandise trade deficit in 2022-23 was estimated at USD 267 billion as against USD 191 billion in the year-ago period.
India is the largest importer of gold, which mainly meets the demand of the jewelery industry. In terms of quantity, the country imports 800-900 tonnes of gold annually.
Gems and jewelery exports to decline by 3 per cent to around USD 38 billion during 2022-23.
Last year, the Center had increased the import duty on gold from 10.75 per cent to 15 per cent to curb the current account deficit (CAD).
