By Admin 
Gold price today: Gold and silver prices are getting a sharp jump in the festive season and global uncertainty. On the second trading day of the week, 24 carat gold prices increased by Rs 1,400. In Mumbai, 24 carat gold is available at Rs 1,18,310 (per 10 grams) and 22 carat gold at Rs 1,08,450 (per 10 grams).
Silver also gained Rs 1,000 and is being sold at Rs 1,51,000 per kg. In the international market, the price of US spot gold rose by 1 percent to $ 3,862.21 an ounce.
City wise rate:
Delhi, Jaipur, Ahmedabad and Pune: 24 carat gold is being sold at Rs 1,18,460, 22 carat at Rs 1,08,600 (per 10 grams). While Kolkata, Mumbai, Chennai, Hyderabad, Bangalore: 24 carat gold is available at Rs 1,18,310, 22 carat at Rs 1,08,450 (per 10 grams). Significantly, 24 carat gold purchases are done by people for the purpose of investment, while 22 carats and 18 carat gold are used to make jewelery.
Sona has given better returns in every round. In the last few years, its prices are due to the continuous rise in the price and a stir in the international market. Due to which investors are constantly getting attracted towards gold.
How the price of gold is fixed:
Most gold in India is imported from abroad. Imported gold is imposed on import duty, GST and other local taxes, which affect the price. Apart from this, changes in global events such as war, economic recession and interest rates also affect the price of gold. The price of gold also increases due to the strength of the dollar or weakening of the rupee.
Gold is also associated with Indian tradition and cultural beliefs. Gold is purchased on wedding, festivals and other happiness. Investors consider it a safe investment. This is the reason why demand and rise in prices are seen.
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