The fall in gold prices has deepened across the country. Prices have fallen in all big cities. On the morning of April 30, the price of 24-carat gold in the capital Delhi touched ₹150,580 per 10 grams. In Mumbai, the price fell to ₹150,430 per 10 grams. Exactly a day earlier, gold prices in Delhi’s bullion market had fallen by ₹1,500—or one per cent—to ₹152,800 per 10 grams. In the international market, spot gold is trading at $4,573.75 an ounce.
Gold and silver prices have been affected by profit-booking, rise in crude oil prices and strengthening of the dollar. The risk of inflation has increased due to the increase in crude oil prices again. As a result, America’s central bank—the Federal Reserve—has decided to keep benchmark interest rates unchanged, that is, keeping them stable. At its April meeting, the benchmark overnight interest rate was held at its current level—within the range of 3.50%–3.75%—for the third consecutive time. The main reason for the increase in oil prices is the ongoing tension in the Middle East.
Gold rates in major cities of the country
**Gold Price in Delhi:** In Delhi, the price of 24-carat gold is ₹150,580 per 10 grams. The rate of 22-carat gold is ₹138,040 per 10 grams.
**Mumbai and Kolkata:** Currently, the price of 22-carat gold in Mumbai and Kolkata is ₹137,890 per 10 grams, while the price of 24-carat gold is ₹150,430 per 10 grams.
**Gold Price in Chennai:** 24-carat gold price is ₹152,180 per 10 grams. The rate of 22-carat gold is ₹139,490 per 10 grams. Prices in Pune and Bengaluru: In both these cities, 24-carat gold is priced at ₹150,430 per 10 grams, while 22-carat gold is priced at ₹137,890 per 10 grams.
silver prices
Silver—another precious metal—has been witnessing a steady decline in prices. On the morning of April 30, prices fell to ₹254,900 per kg. However, just a day earlier, the price of silver had risen by ₹500 to ₹244,500 per kg in the Delhi bullion market. In the international market, the spot silver price is currently trading at $72.99 an ounce. At the domestic level, gold and silver prices are influenced by both domestic and global factors.