On Tuesday, the price of gold remained steady, as indicated by the Goodreturns website, with 22-carat gold priced at ₹5,500 per gram. Similarly, the cost of one gram of 24-carat gold was ₹6,000.
In Delhi, ten grams of 22-carat gold were valued 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 was ₹55,000, and 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 |
Various factors influence the determination of gold rates. These include:
- Global Demand: The demand for gold on a global scale affects its price. Higher demand usually leads to increased prices, while lower demand can result in lower prices.
- Currency Dynamics: The relationship between currencies, particularly the Indian rupee and the US dollar, impacts gold rates. When the rupee weakens against the dollar, gold prices tend to rise in the Indian market.
- Interest Rates: Interest rates set by central banks have an indirect influence on gold prices. When interest rates are low, investors may prefer to invest in gold, driving up its demand and price.
- Government Policies: Government policies, such as import duties, taxes, and regulations related to gold trading, can affect the cost of gold. Changes in these policies can lead to fluctuations in gold rates.
Regarding the silver rates on June 20, as reported by the Goodreturns website, the price of silver remained steady at ₹73 per gram. 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.
Also Read: Case Filed Against ‘TMKOC’ Producer and Crew Following Actor’s Complaint
