gold prices But July 1st, Saturday, remained largely unchanged. On Saturday, the price of 24 carat gold in Delhi was Rs 59,000 per 10 grams and the price of 22 carat gold was Rs 54,100 per 10 grams. Silver was also at Rs 71,400 per kg.
In other cities, 24-karat and 22-karat gold prices stood at Rs.58,850 and Rs.53,950 per 10 grams in Mumbai. In Kolkata, the price of 24 carat gold was Rs 58,850 per 10 grams, while the price of 22 carat was Rs 53,950 per 10 grams.
The prices will be updated later as per the market trends.
In Chennai, 24 carat and 22 carat gold was available for buying at Rs.59,240 and Rs.54,300. In Lucknow, 24 carat and 22 carat gold remained at Rs 59,000 and Rs 54,100. The prices in Noida were Rs 59,000 and Rs 54,100. In Gurugram too, gold prices remained at Rs 59,000 and Rs 54,100 per 10 grams.
In the futures market on MCX, gold rose by 0.30 per cent to close at Rs 58,190 per 10 grams on Friday. However, silver rose by 0.59 per cent to Rs 70,010 per kg.
In the international market, gold rose 0.61 per cent to USD 1,920.80 an ounce and silver by 1 per cent to USD 22.86 an ounce in New York.
Gold prices in India are generally influenced by a number of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics. Gold is considered an important part of India because of its cultural significance, investment value and its traditional role in weddings and festivals.
Here are some factors that can affect the price of gold:
demand and supply: The price of gold is largely determined by the demand and supply of gold in the market. If the demand for gold increases, the rate will also increase. Conversely, if the supply of gold increases, the rate will decrease.
Global Economic Conditions: The price of gold is also affected by global economic conditions. For example, if the global economy is performing poorly, investors may be attracted to gold as a safe haven, which will drive up the price of gold.
political instability: Political instability can also affect the gold rate. For example, if there is a political crisis in a major country, investors may buy gold to hedge against uncertainty, which will drive up the price of gold.