Gold prices remained stable on Tuesday, with the cost of one gram of 22-carat gold reported as ₹5,500, according to the Goodreturns website. Similarly, the price of one gram of 24-carat gold was ₹6,000.
In Delhi, the price of ten grams of 22-carat gold was recorded at ₹55,150, while ten grams of 24-carat gold were priced at ₹60,150. In Mumbai, the rate for ten grams of 22-carat gold stood at ₹55,000, while the price for ten grams of 24-carat gold was ₹60,000.
Here are the gold rates for major cities as of June 20:
| City | Gold price (22k/10 grams) | Gold price (24k/10 grams) | Silver price (per kg) |
| Delhi | 55,150 | 60,150 | 74,000 |
| Mumbai | 55,000 | 60,000 | 74,000 |
| Chennai | 55,350 | 60,380 | 78,600 |
| Kolkata | 55,000 | 60,000 | 74,000 |
What factors influence the determination of gold rates?
Gold prices in India are shaped by various factors, including global demand, currency dynamics, interest rates, and government policies. When the value of the Indian rupee depreciates against the US dollar, the price of gold tends to rise, resulting in higher costs for buyers.
On an international scale, factors like global economic growth and the strength of the US dollar against other currencies significantly impact gold prices. Furthermore, the demand for gold as a precious metal plays a crucial role in price fluctuations.
Silver rates on June 20
The price of silver remained steady on Sunday, with one gram of silver priced at ₹73, as reported by the Goodreturns website.
In India, the price of silver is influenced by factors such as gold prices, industrial demand, bulk purchases, and inflation. Typically, when the price of gold increases, it tends to have a similar effect on silver prices as well.
For all the latest business News Click Here
