Gold Rate Today in India: Check Gold Prices in Different Cities on September 20, 2023
India, being the largest importer of gold, primarily caters to the demand of the jewelry industry. Today, on September 20th, the retail rates for 10 grams of gold vary across various cities, with an approximate price of Rs 60,000. To provide a more detailed breakdown, 10 grams of 24-carat gold are currently valued at Rs 60,230, while the same quantity of 22-carat gold can be obtained for Rs 55,210. Additionally, the current price of silver stands at Rs 74,800 per kilogram.
Let’s take a look at the gold rates in some major cities in India:
Delhi Gold Rate Today:
In Delhi, the price of 22-carat gold is Rs 55,360/10 grams, while customers have to pay Rs 60,290/10 grams for 24-carat gold.
Ahmedabad Gold Rate:
In Ahmedabad, the retail price of 22-carat gold is Rs 55,260 per 10 grams, and the rate of 24-carat gold is Rs 60,280 per 10 grams. Please note that these prices may change during the day.
Chennai Gold Rate:
In Chennai, the retail price of 22-carat gold is Rs 55,510/10 grams, while the price of 24-carat gold is Rs 60,560/10 grams.
Here is a comprehensive list of gold prices in different cities on September 20, 2023 (In Rs/10 grams):
– Mumbai: 22 Carat Gold Price – 55,210 | 24 Carat Gold Price – 60,230
– Gurugram: 22 Carat Gold Price – 55,360 | 24 Carat Gold Price – 60,290
– Kolkata: 22 Carat Gold Price – 55,210 | 24 Carat Gold Price – 60,230
– Lucknow: 22 Carat Gold Price – 55,360 | 24 Carat Gold Price – 60,290
– Bengaluru: 22 Carat Gold Price – 55,210 | 24 Carat Gold Price – 60,230
– Jaipur: 22 Carat Gold Price – 55,360 | 24 Carat Gold Price – 60,290
– Patna: 22 Carat Gold Price – 55,260 | 24 Carat Gold Price – 60,280
– Bhubaneshwar: 22 Carat Gold Price – 55,210 | 24 Carat Gold Price – 60,230
– Hyderabad: 22 Carat Gold Price – 55,210 | 24 Carat Gold Price – 60,230
On September 20, on the Multi Commodity Exchange, gold futures maturing on October 05, 2023 were trading at Rs 59,219. Meanwhile, silver maturing on December 05 was priced at Rs 72,214.
The price of gold in India is influenced by various factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.
Several factors that can impact the price of gold are:
1. Supply and Demand: The gold price is greatly influenced by supply and demand in the market. When the demand for gold increases, the price tends to go up, and vice versa.
2. Global Economic Conditions: Global economic conditions play a significant role in determining the price of gold. During times of global economic downturns, investors often turn to gold as a safe haven, causing the price to rise.
3. Political Instability: Political instability can also impact the price of gold. When there is political turmoil or crisis in a major country, investors tend to invest in gold as a hedge against uncertainty, leading to a higher gold price.
Moreover, the retail price of gold in India is influenced by factors such as the global gold price, the value of the Rupee, and the expenses associated with labor and materials used in crafting gold jewelry.
Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.
About the Author:
Namit Singh Sengar is a Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands, and the economy. For more articles by Namit Singh Sengar, please visit his profile.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
