Gold Prices Trade Strong on January 20. Check Rates In Delhi, Mumbai And Other Cities

Gold prices opened on a positive note on Friday, January 20. On the Multi Commodity Exchange (MCX) India, gold futures traded in the green, up 0.24 per cent, at Rs 56,680 at 10.18 am. Silver futures touched a high of 0.52 per cent at Rs 68,712. In the Indian retail market, gold prices saw a rise of Rs 350 on January 20, with 10 grams of 22 carat gold trading at Rs 52,350. The same quantity of 24-carat variety was sold at Rs.57,110, up by Rs.380. The price of one kg of silver increased by Rs 22, which is selling at Rs 72,100.

Buying gold in Chennai, the city known for the costliest gold prices in the country, will cost Rs 53,250 per 10 grams of 22 carat gold, while 24 carat gold will cost Rs 10 for the same 10 grams. 58,090. In Delhi, the 24-carat yellow metal is selling at Rs 57,270, while the 22-carat variety is trading at Rs 52,500. In Bengaluru on Friday, gold was priced at Rs 57,160 for the 24 carat variety and Rs 52,400 for the 22 carat variety of the precious metal. As usual, gold prices remained flat in Mumbai, Kolkata and Hyderabad, with 24K gold retailing at Rs 57,110 for 10 grams and 22K gold at Rs 53,350.

Many factors, most importantly the value of the rupee against the US dollar for exchange, affect the price of gold and silver in India. Prices are also affected by how much demand there is for the precious metal globally. Additionally, the cost of manufacturing, labor expenses, excise taxes, state-specific taxes, and additional GST on finished jewelry are all factors that affect how much gold jewelry costs vary from state to state.

In the global market, spot gold was little changed today at $1,930.04 an ounce, up 0.5% for the week at 0308 GMT. According to Reuters, on Thursday the price was the highest since April 2022 at $1,935.20.

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