Gold Rate Today In India: After following a continuous upward trend amid Iran-Israel geopolitical tensions, gold prices in India fell on April 20. The initial price for 10 grams of gold stood at Rs 74,240. Pure gold (24-carat) was trading at around Rs 74,240 per 10 grams, while 22-carat gold was at Rs 68,050.
At the same time, the silver market showed an upward movement, reaching Rs 86,500 per kilogram.
Gold rate today in India: Retail gold price on April 20
Gold Rate Today In Mumbai
Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 68,050, while the equivalent amount of 24-carat gold is valued at Rs 74,240.
Gold Rate Today In Delhi
As of April 18, 2024, the price of 10 grams of 22-carat gold in Delhi is approximately Rs 68,210, while the rate for 10 grams of 24-carat gold stands at roughly Rs 74,390.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 68,110, and for the same amount of 24-carat gold, it’s Rs 74,290.
Check gold rates today in different cities on April 20, 2024; (In Rs/10 grams)
Multi Commodity Exchange
On April 20, 2024, the MCX was closed as the commodity exchange remains closed on Saturdays and Sundays.
Retail Cost of Gold
The gold price in India, often referred to as the retail gold price, reflects the final cost per unit weight paid by consumers when purchasing gold. This price is influenced by numerous factors beyond the inherent value of the metal.
Gold carries great significance in India because of its cultural importance, its role as a valuable investment, and its traditional connection with weddings and festivals.
Here are several factors that can exert influence on the price of gold:
Market Forces and Gold Valuation: The valuation of gold is predominantly influenced by the dynamics of supply and demand. If there is a surge in public interest for gold, its price tends to rise. Conversely, an excess supply of gold in the market can lead to a decline in its price.
Global Economic Dynamics: The broader state of the global economy plays a significant role in determining gold prices. During periods of economic downturn or recession, investors often turn to gold as a secure investment, causing an uptick in its value.
Impact of Political Uncertainty: Political instability can also exert considerable influence on gold prices. Instances of uncertainty or crises in pivotal countries or regions may drive investors to safeguard their assets by investing in gold, thereby creating heightened demand and causing an increase in the price of gold.
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