The price of gold saw a moderate decline on Tuesday. The rate for 22-carat gold stood firm at ₹5,515 per gram compared to the day earlier of ₹5,530. The larger quantities, such as 8 grams and 10 grams, were priced at ₹44,120 and ₹55,150, respectively. Notably, the cost for 100 grams of 22-carat gold remained consistent at ₹5,51,500. Meanwhile, 24-carat gold was priced at ₹6,016 per gram.
Silver price maintained stability, with one kilogram of silver registering a nationwide cost of ₹76,200.
These price fluctuations are influenced by an array of factors, with input from reputable jewellers being a key component. Factors such as global gold demand, currency values in various nations, prevailing interest rates, and government regulations related to gold trade all contribute to these fluctuations. Additionally, global events, including the state of the global economy and the strength of the US dollar in relation to other currencies, exert their influence on gold prices within the Indian market.