Gold Price Today: Gold became cheaper on the first day of the week! Prices slipped from Delhi to Chennai; Know the latest price of 22K and 24K today

On the first day of the trading week, gold prices were seen softening on the Indian bullion market and Multi Commodity Exchange (MCX). Due to stability in dollar index globally and profit booking in international markets, there has been a decline in the prices of yellow metal at the domestic level. From the national capital Delhi to Mumbai and the south’s major jewelery market Chennai, the prices of both 24 carat (pure gold) and 22 carat (jewellery gold) have come down. This fall brings a favorable buying opportunity for jewelery buyers and investors just ahead of the festive season (Dussehra and Diwali).

Today’s revised rates of gold per 10 grams in the retail bullion market of major cities have been recorded as follows:

• New Delhi: In the capital Delhi, the price of 24 carat pure gold slipped to almost ₹1,52,820 per 10 grams, while the price of 22 carat gold used in jewelery manufacturing ₹1,40,090 Recorded per 10 grams.

• Mumbai: 24 carat gold in the country’s financial capital Mumbai ₹1,52,680 per 10 grams and 22 carat gold ₹1,39,950 Trading at per 10 grams level.

• Chennai: Price of 24 carat gold in Chennai, the capital of Tamil Nadu. ₹1,52,730 Gold price per 10 grams and 22 carat ₹14,000 per gram (i.e. around ₹1,40,000 per 10 grams).

• Kolkata: 24 carat gold in Kolkata’s bullion market ₹1,52,680 Per 10 grams and 22 carat jewelery gold ₹1,39,950 Available per 10 grams.

• Lucknow: In Lucknow, the capital of Uttar Pradesh, the price of 24 carat gold is around ₹ 1,52,830 per 10 grams and 22 carat gold is around ₹ 1,40,100 per 10 grams.

According to commodity and market analysts, there are many domestic and international reasons behind this slowness in gold prices on the first day of the week:

• Profit booking at international level: After the record rise in the previous trading sessions, there has been light profit booking by speculators and institutional investors on the foreign markets (Comex), which showed pressure in the spot market.

• Strong US Dollar: The recovery in the dollar index made buying gold temporarily costlier for investors holding non-US currencies, leading to a slight pause in demand.

• Stagnation in domestic jewelery demand: Between the end of Pitru Paksha and the formal arrival of Navratri, buyers have been cautious about placing new deals in the retail markets before placing big orders.

Bullion experts recommend that whenever you buy gold, do not just pay attention to the daily rate, but also check these important parameters:

• Six digit HUID code: From April 1, 2023, the Central Government has made 6-digit alphanumeric Hallmarking Unique Identification (HUID) mandatory. Do not buy jewelery without hallmark.

• Making Charges and GST: The gold rate shown on the screen does not include 3% GST and jeweler’s making charge (which can range from 5% to 18%). Make sure to check the making charge and tax separately as breakup on the fixed bill.

• Carat difference: 24 carat gold is 99.9% pure but because it is very soft, it cannot be made into jewellery; Only 22 carat (91.6% pure) or 18 carat (75% pure) gold is used for jewellery.