Gold Rate Rises In India: Check 22 Carat Price In Your City On July 17

Gold Rate Today In India: On July 17, gold prices in India shimmered near Rs 73,000 per 10 grams. This rate represents a premium for purer gold, with 24-carat, the highest purity, priced at Rs 74,030 per 10 grams. For those interested in jewelry, 22-carat gold, known for its added durability due to a slight alloy mix, was priced at Rs 67,860 per 10 grams.

Meanwhile, silver’s price stood at Rs 94,000 per kilogram.

Gold Price Trends

Gold price extended the rally for the fifth straight session and rose by Rs 550 to Rs 75,700 per 10 grams in the local market on Tuesday amid sustained buying by jewellers as well as unabated uptrend in the international markets.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity quoted higher at Rs 75,700 per 10 grams and Rs 75,350 per 10 grams, respectively.

The yellow metal has gained Rs 1,300 per 10 grams in the past five sessions since July 10 when it had jumped by Rs 400 to close at Rs 75,050 per 10 grams.

Traders attributed the rise in gold prices to a pick-up in demand by local jewellers and an upward movement in the international market amid expectations of interest rate cut by the US Federal Reserve.

In the international market, gold price on Comex hit an all-time high of USD 2,452 per ounce on Tuesday.

Meanwhile, silver prices also jumped by Rs 400 to Rs 94,400 per kg. It had ended at Rs 94,000 per kg in the previous session.

Gold rate today in India: Retail gold price on July 17

Check gold rates today in different cities on July 17, 2024; (In Rs/10 grams)

India’s reliance on imported gold largely influences domestic prices, which closely mirror global trends. Additionally, the cultural importance of gold in India, particularly during festivals and weddings, can impact demand levels.

Retail Cost of Gold in India

The retail price of gold in India, reflecting the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value.

Gold holds immense cultural importance in India, serving as a major investment and playing a crucial role in traditional weddings and festivals.

Amid ongoing market fluctuations, investors and traders closely monitor these dynamics. Stay tuned for further updates on this evolving story.