Gold Rate Update: Prices of precious metals spike before Rakshabandhan, check current rates in your city before stepping out

Gold Rate Update: Gold is considered to be in its purest form at 24 carats. Pure gold, often known as 24 carat gold, is 99.9% pure and contains no other metals. The 22 carat pure gold is suitable for producing jewellery. It is 22 parts gold and two parts silver, nickel, or any other metal. If you want to invest in gold or buy gold jewellery for yourself, you'll find all the information you need right here. Find the most recent 24 carat and 22 carat gold prices in India right here. Gold prices in India now are Rs 5,470 per gram for 22k, and Rs 5,967 per gram for 24k, commonly known as 999 gold.

Gold Rates in some major cities

Gold Rate Today: On MCX

Gold prices have increased on the Multi Commodity Exchange (MCX). Gold futures on the MCX rose 0.16 percent to Rs 58981 for 10 grams with an expiration date of August 4, 2023. Silver is currently priced at Rs. 73639, up 0.4%, for delivery on September 5, 2023. There is an app available from the government that allows people to check the purity of gold. Using the BIS Care app, customers may determine the purity of gold.

Gold Rate Update: How gold rate changes?

Gold rates may differ from city to city depending on a variety of factors such as demand, interest rates, octroi charges, state taxes, gold traders, making charges and so on. Gold prices, like any other commodity, are heavily influenced by demand and supply economics. Price increases are frequently the result of increased demand combined with constrained or poor supply. Gold and interest rates seem to be inversely related. As interest rates rise, consumers tend to sell their gold in order to obtain a high rate of return.

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