Following the Finance Minister’s new budget announcement, gold prices have experienced significant fluctuations, potentially saving you at least ₹5,000.
Gold prices have significantly declined during the holy month of Sawan. The new budget has provided substantial relief to gold and silver buyers. Additionally, gold continues to become cheaper due to the lack of auspicious marriage timings in the country.
In the national capital, New Delhi, the price of 24-carat gold is ₹70,720 per 10 grams. Meanwhile, in Mumbai and Kolkata, the price has declined to ₹70,570 and ₹70,350, respectively. Concurrently, silver has also experienced a drop in value, with the price now at ₹85,400 per kilogram.
Gold Prices in different Parts of India
In Uttar Pradesh, gold prices are as follows: In Lucknow, the price for 24-carat gold is ₹70,720 per 10 grams. In other cities of the state, including Kanpur, Agra, and Varanasi, the price remains consistent with Lucknow’s rate.
In Bihar, the price of 24-carat gold is ₹70,620 per 10 grams in Patna. The price reflects a slight variation compared to other major cities in the region.
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Chennai | 64,990 | 70,350 |
| Kolkata | 64,690 | 70,570 |
| Gurugram | 64,840 | 70,720 |
| Lucknow | 64,840 | 70,720 |
| Bengaluru | 64,690 | 70,570 |
| Jaipur | 64,840 | 70,720 |
| Patna | 64,740 | 70,620 |
| Bhubaneswar | 64,690 | 70,570 |
| Hyderabad | 64,690 | 70,570 |
When to Buy Gold in India?
For buyers across various states in India, now is an opportune time to purchase jewelry. However, the possibility of further declines in gold prices remains. During the upcoming Shraddh Paksha, gold is expected to reach its lowest value. Nevertheless, price fluctuations depend on multiple factors, so nothing can be guaranteed.
Here are the factors that influence gold price in India:
Global Economic Conditions: Economic stability or instability worldwide can impact gold price. Economic downturns or uncertainties often drive investors to gold as a safe haven, increasing its price.
Currency Exchange Rates: The strength of the Indian Rupee against major currencies, especially the US Dollar, affects gold prices. A weaker Rupee makes gold more expensive in India.
Interest Rates: Increase in interest rates can increase gold price. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, making it more attractive. Conversely, higher rates can lead to lower gold price.
Geopolitical Tensions: Political instability, conflicts, and geopolitical tensions can increase gold prices as investors seek safe-haven assets.
Domestic Demand and Supply: The demand for gold in India, driven by factors such as festivals, weddings, and cultural practices, can affect prices. Additionally, fluctuations in gold supply due to mining and imports also play a role.
Also read: Viral Video: Naked Woman’s Airport Chaos and Sex Demand
