Gold and silver prices today: Check latest rates in your city on October 12
Gold prices in India dipped by up to ₹27 per gramme on Wednesday, a day after the rates witnessed a decline of ₹70 per gramme from the previous day.
According to Goodreturns, a website which tracks the daily prices of gold and silver, a gramme of 22 carat (K) gold costs ₹4,665, down from ₹4,690 a day ago. Meanwhile, an equal quantity of 24k gold is available at ₹5,089, as against ₹5,116 on Tuesday.
In Delhi, 10 grammes each of 22k and 24k of the metal are priced at ₹46,800 and ₹51,050 respectively. The corresponding rates in other metros are: ₹46,700 and ₹50,950 (Bengaluru), ₹47,390 and ₹51,700 (Chennai), and ₹46,650 and ₹50,890 (Hyderabad, Kolkata and Mumbai).
In India, gold becomes more expensive if the rupee slides against the US dollar. Its cost also depends on factors such as volatile policies, economic growth etc.
Today’s silver prices in India
On the other hand, silver, too, is slightly less expensive on Wednesday, its price sliding by 40 paise per gramme. Therefore, in Delhi, Kolkata and Mumbai, 10 gramme of the metal cost ₹585 in Delhi, Kolkata and Mumbai, and ₹640 in Bengaluru, Chennai and Hyderabad.
Silver rates in India are in tune with those of gold. If the gold prices go up, silver will follow suit. However, silver is always cheaper than gold.