Gold prices on Saturday remained at ₹5,770 per gram for 22K gold and ₹6.295 per gram for 24K gold.
‘K’ or carat is a term used to measure the purity of gold. A 24K gold is considered pure gold as it contains 99 per cent purity. It is in liquid form and cannot be used to make jewellery.
On the other hand, a 22K gold contains traces of other metals like copper and zinc. It can be used to make jewellery.
Here are gold prices for five major Indian cities on January 13, 2024:
| CITY | 22K GOLD PRICE (Rs/10 GMS) | 24K GOLD (Rs/10 GMS) |
|---|---|---|
| DELHI | 57,850 | 63,100 |
| MUMBAI | 57,700 | 62,950 |
| KOLKATA | 57,700 | 62,950 |
| CHENNAI | 58,200 | 63,490 |
| BENGALURU | 57,700 | 62,950 |
India is the largest importer of gold, and the imports meet the demands of the jewellery industry. Gold prices are dependent on factors including currency, global developments, interest rates etc. If the rupee slides against the US dollar, the gold prices will increase. In the cities, gold rates are determined by various factors including demand, state taxes, octroi, interest levied etc.
Silver prices
The price of silver remained at ₹76 per gram on Saturday. Silver is always in demend in India’s jewellery markets. Due to this huge demand, the availability of this precious metal is declining.
Here are the silver prices for major cities on January 13, 2024:
| CITY | SILVER PRICE (Rs/10 GMS) |
|---|---|
| DELHI | 760 |
| MUMBAI | 760 |
| KOLKATA | 760 |
| CHENNAI | 775 |
| BENGALURU | 732.50 |
Silver prices are determined on other factors including gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increase, the silver rate will increase and vice versa.