Ahead of the festive season, gold prices in India seem to have gone down as it fell below Rs 44,000 per 10 gram of 22-carat gold on Saturday. As per the Good Returns website, it also saw a dip of Rs 160 per 10 gram for both 22-carat and 24-carat gold.
After this, the gold rates (10 gram of 22 carat) fell down to Rs 43,760 from the previous Rs 43,920 and the price of 24-carat gold fell to Rs 44,760 from Rs 44,920 per 10 grams. Notably, gold rates plunged by over Rs 10,000 or 18% per 10 gm in the last 6 months from Rs 56,200 per 10 gm in August last year.
The website also revealed that the price of 22-carat gold in Delhi is Rs 43,850 per 10 gm, while in Chennai it is trading at Rs 42,160 In Mumbai, the precious metal is being sold at Rs 43,760, In Vadodara and Ahmedabad, the prices remained below Rs 44,000 — Rs 44,200 to be specific (for the ten grams of 22-carat gold).
Gold prices slipped towards a one-week low on Friday, on course for a first weekly decline in three, with bullion pressured by a rallying dollar following positive US economic data and as vaccine roll-outs gathered steam.
Spot gold was down 0.2% at $1,724.03 per ounce by 0420 GMT on Friday, having hit a one-week low of $1,721.46 in the previous session. US gold futures were down 0.1% at $1,722.70 per ounce.