New Delhi: Ahead of Holi, gold prices in India fell below Rs 44,000 per 10 gram of 22-carat gold on Saturday. Notably, the precious metal witnessed a dip of Rs 160 per 10 gram for both 22-carat and 24-carat gold, the Good Returns Website showed today. Following the decline, gold rates (10 gram of 22 carat) dipped to Rs 43,760 from the previous Rs 43,920. The price of 24-carat gold fell to Rs 44,760 from Rs 44,920 per 10 grams. Notably, gold rates plunged by over Rs 10,000 or 18% per 10 gm in the last 6 months from Rs 56,200 per 10 gm in August last year.
According to the Good Returns Website, the price of 22-carat gold in Delhi is Rs 43,850 per 10 gm, while in Chennai it is trading at Rs 42,160 In Mumbai, the precious metal is being sold at Rs 43,760, In cities like Vadodara and Ahmedabad, the prices remained below Rs 44,000 — Rs 44,200 to be specific (for the ten grams of 22-carat gold).
Check Gold Rates In Your City
| City | 22-k gold (per 10 gm) | 24-k gold (per 10 gm) |
|---|---|---|
| Kerala | Rs 41,700 | Rs 45,490 |
| Lucknow | Rs 43,850 | Rs 47,840 |
| Bangalore | Rs 41,700 | Rs 45,490 |
| Pune | Rs 43,760 | Rs 44,760 |
| Visakhapatnam | Rs 41,700 | Rs 45,490 |
| Jaipur | Rs 43,850 | Rs 47,840 |
| Patna | Rs 43,760 | Rs 44,760 |
| Nashik | Rs 43,760 | Rs 44,760 |
Note: The 22-carat and the 24-carat gold rates shown above are not showroom prices. The rates of the precious metal are expected to change after the inclusion of Goods and Services Tax (GST), TCS, and other taxes. Moreover, the prices of gold and silver vary across India due to the excise duty, state taxes, and other levies.
Gold Prices Expected to Jump to Rs 48,000 in Next 2 Months
In the next two months, the gold prices are expected to go up to Rs 48,000, predicted Anuj Gupta, Vice President — Commodities & Currency trade at IIFL Securities.
Speaking to Zee Business on gold and silver outlook Gupta further said, “This dip in gold price is due to the ease in crude oil price in the global markets. But, Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices takes a big breather.”
“But for traders, the sentiments for gold will remain bearish in the short-term and hence gold investors will have a big opportunity to accumulate yellow metal and book profit in next two months”, he added.