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Home / Markets / Commodities /  Gold price today: 10 gram in 24 carat earmarks over Rs53k. Check rates in major cities here
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Gold and silver prices on Saturday were costlier in many regions of India. A 10 gram of gold in 24 carat has crossed more than 53,000-mark, while 1 kg silver was sold above 67,000 in the country. 

In India, 10 gram of gold in 24 carat is sold at 53,020 higher by 390 from the previous day of 52,630. Meanwhile, 100 gram in the same carat is available at 5,30,200 up by 3,900 from the previous day of 5,26,300.

As for 10 gram in 22 carat is sold at 48,600 up by 350 from the previous day of 48,250, while 100 gram in the same carat is at 4,86,000 rising by 3,500 from 4,82,500 of the previous day.

As per the Good Returns website, among major cities, 24 carat gold is sold at 53,660 in cities like Chennai, Coimbatore, and Madurai. While the yellow metal was sold at 53,170 in cities like Jaipur, Lucknow, and Chandigarh.

Meanwhile, the glittery metal was at 53,120 in cities like Pune, Vadodara, Patna, Nagpur, and Nashik. The price was 53,020 in Mumbai, Kolkata, Delhi, Bangalore, Hyderabad, Kerala, Vijaywada, Bhubaneswar, Mangalore, Vishakhapatnam, and Mysore. On the other hand, in Ahmedabad and Surat, the gold price is at 53,070.

Furthermore, silver price in 1 kg surged by 300 to 67,100 from the previous day's 66,800. While prices for 100 gram and 10 gram rose to 6,710 and 670 respectively.

On Friday, at Multi Commodity Exchange (MCX), gold futures maturing June 3, settled at 52,099 up by 202 or 0.39%. The yellow metal ranged from 51,681 and 52,197 during the day.

At the exchange, silver futures maturing May 5, ended higher by 267 or 0.40% to 67,032 after ranging from 66371-67080 in the trading hours.

On an expected line, RBI in FY23's first bi-monthly monetary policy, decided to keep the repo rate unchanged at 4% while maintaining an accommodative stance, however, it restored the liquidity corridor position to the pre-pandemic level. Due to geopolitical tension that led to mounting commodity prices along with boiling oil prices, RBI now expects a slowdown in economic growth while inflation is seen to rise further. The current policy approach is hawkish and is understandable due to inflationary pressures globally.

On inflation, RBI expects the consumer price index at 5.7% in 2022-23, with Q1 at 6.3%; Q2 at 5.8%; Q3 at 5.4%; and Q4 at 5.1%. While the real GDP growth for 2022-23 is now projected at 7.2%, with Q1 at 16.2%; Q2 at 6.2%; Q3 at 4.1%; and Q4 at 4%, with risks broadly balanced.

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