On Saturday, July 1, gold prices stayed fairly unchanged. On Saturday, the price of 24 karat gold in Delhi was Rs 59,000 per 10 grams, while the price of 22 karat gold was Rs 54,100 per 10 grams. A kg of silver cost Rs 71,400 as well.
Prices for 24- and 22-carat gold per 10 grams were respectively Rs 58,850 and Rs 53,950 in Mumbai, among other places. The price of gold in Kolkata was Rs 58,850 for 10 grams of 24 carat gold and Rs 53,950 for 10 grams of 22 carat gold.
Prices will be revised later in accordance with market trends.
In Chennai, 24- and 22-carat gold could be purchased for Rs 59,240 and Rs 54,300, respectively. Gold in Lucknow was priced at Rs 59,000 for 24 karat and Rs 54,100 for 22 karat. The costs were Rs. 59,000 and Rs. 54,100 in Noida. Gold was priced at Rs 59,000 and Rs 54,100 per 10 grams in Gurugram as well.
In the futures market on the MCX, gold increased 0.30 percent on Friday to settle at Rs 58,190 for 10 grammes. Silver, on the other hand, was up 0.59 percent to Rs 70,010 per kilogramme.
Silver in New York increased by 1% to $22.86 an ounce on the international market, while gold increased by 0.61 percent to $1,920.80 an ounce.
Global economic conditions, inflation rates, currency movements, as well as regional demand and supply dynamics, all have an impact on gold prices in India. Due to its cultural significance, investment potential, and customary use in weddings and celebrations, gold is regarded as a significant component in India.
The following variables may have an impact on the price of gold:
Demand and Supply: The market’s demand for and supply of gold have a significant role in determining the gold rate. The rate will increase if there is a rise in demand for gold. On the other hand, if the quantity of gold rises, the rate will fall.