Gold prices in India showcased signs of stability in India on Thursday. On the Multi Commodity Exchange (MCX) India, gold remained stable with a marginal dip of 0.02 per cent. Gold futures were trading at Rs 55,058 at 10 14 AM. Silver futures showed a similar trend, trading around their Wednesday level, at Rs 69, 644
In the retail market, gold prices saw no change on December 22, with 10 grams of the 24-carat gold trading at Rs 54,820 and the same quantity of the 22-carat variety retailing at Rs 50,250. The price for one kilogram of silver, in the retail market, was recorded at Rs. 70,100.
Buying gold in the national capital would require you to invest Rs 50,400 for every 10 grams of 22-carat gold, and Rs. 54,980 for 10 grams of 24-carat gold. Chennai, known to be the city to have the most expensive gold pricing, continued the trend. The 24-carat variety of the yellow metal is being retailed at Rs. 55,830, while the 22-carat variety is trading at Rs 51,180. Prices of gold in Hyderabad stood at Rs. 50, 250 for the 22-carat variety and Rs 54,820 for the 24-carat type. In Bangalore, the prices of 22-carat gold and 24-carat gold were locked at Rs. 54,870 and Rs. 50,300. The prices of gold in Mumbai and Kolkata with 10 grams of both the 24 and 22-carat varieties of gold retailing at Rs 54,820 and Rs 50,2500 respectively.
The Indian states further impose taxes upon the purchase of gold which leads to fluctuations in the pricing across the country. In the case of jewellery made of gold, the prices tend to be higher than the rates as they factor in aspects like additional GST and making charges on the finished product.
Meanwhile, in the global market, U.S. gold futures remained unchanged at $1,824.70. as of 0036 GMT, while spot gold was steady at $1,815.00 per ounce. Spot silver fell by 0.1% to $23.94, while platinum gained 0.4% to $1,002.29. And, palladium rose by 0.4% to $1,697.93.
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