Gold Price Today: Gold prices fell, silver also slipped; Know the latest prices of major cities

Relief news has emerged for gold and silver buyers in the bullion market today. Gold prices have declined today due to weak signals from the global market and fluctuations in demand at the local level. Along with this, due to slowdown in industrial demand, a slippage has also been seen in the price of silver. Due to gold becoming cheaper in the retail market, those buying jewelery for the upcoming festive and wedding season will get direct benefit.

Condition of gold and silver in domestic bullion market

At the national level today, softening of prices of both 24 carat pure gold and 22 carat jewelery gold is being seen. Due to interest rates and inflationary pressure in the international market, profit booking dominated in precious metals, which also affected the Indian markets. Talking about silver, selling pressure was seen in both the futures market and the spot market, due to which the prices slipped down.

Latest price of gold in 10 big cities of the country (per 10 grams)

There is a slight difference in the prices of gold due to local taxes, VAT and transportation charges imposed in different states and cities of the country. The average prices of 24 carat and 22 carat gold in major 10 metros were recorded as follows:

Keep these important things in mind while buying gold

If you are going to buy gold in the market, always buy jewelery with Bureau of Indian Standards (BIS) hallmark. Be sure to verify the hallmarking on the jewelry (e.g. 916 purity for 22 carats). Additionally, the prices displayed at stores are base prices, to which 3% GST and jewellers’ making charges are added separately.