Today, Wednesday, January 15, is an important day for investors and jewelery buyers. The continuous fluctuations in the prices of gold and silver have attracted people’s attention. On Tuesday, gold prices fell to Rs 73,550 from Rs 74,308 per 10 grams, while silver prices rose to Rs 93,500 from Rs 89,800 per kg. These prices have remained stable since the market opened on Wednesday. Let us know the prices of 24 carat and 22 carat gold and silver in major cities of the country on Wednesday.
The price of gold has been increasing continuously for the last few days. Experts say that the weakness of the rupee against the dollar and the rise in crude oil prices have led to the rise in gold prices. He says that the price is increasing due to industrial use of silver. Last year, gold and silver prices set many new records. Experts say that gold will prove to be a profitable investment even in 2025.
Why the difference in price?
Why is the price of gold different in every city, why is the price not the same in all cities? It is natural for such a question to arise. The price of gold depends on many factors and tax is the most important one. Local tax is imposed on gold by state governments. Which varies in every state and city, due to which its price also varies.
How are prices affected?
Gold prices in the country are influenced not only by supply and demand but also by international activities. Gold prices are also largely influenced by trading activities in major global markets, including the London OTC spot market and the COMEX gold futures market.
| City | 22 carat price | price of 24 carat |
| Chennai | ₹73,400 | ₹80,070 |
| Mumbai | ₹73,400 | ₹80,070 |
| Delhi | ₹73,550 | ₹80,220 |
| Kolkata | ₹73,400 | ₹80,070 |
| Ahmedabad | ₹73,450 | ₹80,120 |
| Jaipur | ₹73,550 | ₹80,220 |
| Lucknow | ₹73,550 | ₹80,220 |
| Gurugram | ₹73,550 | ₹80,220 |
| Noida | ₹73,550 | ₹80,220 |
Who sets the price?
The worldwide price of gold is set by the London Bullion Market Association (LBMA). It publishes gold prices in US dollars, which serves as a global benchmark for bankers and bullion traders. Whereas in our country the Indian Bullion Jewelers Association (IBJA) adds import duty and other taxes to the international price of gold and decides at what rate the gold will be offered to the retailers.
