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Gold prices increased by ₹20 in major Indian cities on Sunday. According to website Goodreturns, which tracks prices of gold daily, one gram of 22 carat metal costs ₹5,415. On the other hand, one gram of 24 carat gold costs ₹5,907.
In Delhi, the price of 22K and 24K gold stood at ₹54,300 per 10 gms and ₹59,220 per 10 gms respectively. In India’s financial capital Mumbai, 22K gold was priced at ₹54,150 per 10 gms while 24K gold cost ₹59,070 per 10 gms.
Here are the prices of gold in major Indian cities on July 2, 2023.
In India, gold prices are determined on various factors including currency, international factors and government policies.
Silver
Silver rates almost remained unchanged on July 2 in major Indian cities. According to Goodreturns website, one grams of silver cost ₹71.90.
Here are the silver prices for major Indian cities on July 2.
In India, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increases, the silver price will also increase. The industrial firms use silver for production of various commodities like jewellery, coins, medals etc.Also, it is easier to influence the silver market through large trades and purchases.
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