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Gold prices increased in major cities of India on Sunday, June 28, in both their 22-carat and 24-carat forms. This increase has been fueled by bullish sentiment in the global gold market and local purchasing demand.
As per the latest price quotes, 24-carat gold was available at Rs. 1,43,390 per 10 grams in Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata, up Rs. 440 from the previous day. 22-carat gold gained Rs. 410 and is available at Rs. 1,31,350 per 10 grams.
Chennai remained the most expensive major metro city in India. While the price of 24-carat gold hit Rs. 1,43,830 per 10 grams, that of 22-carat gold stood at Rs. 1,31,750 per 10 grams. Gold prices in Ahmedabad also increased, following the general trend.
Jewelers say that although retail prices track international market trends, variations may arise due to taxes, margins, and city surcharges.
Here is one way to ensure your jewelry is genuine: buy pieces that carry a hallmark. Here are things you need to know:
Your jewelry should bear the BIS hallmark, indicating the purity of the gold in India.
The quality of gold can be 24K (99.9%), 22K (91.6%), or 18K (75%).
Another thing you have to check out in your jewelry is the HUID number.
Receipt shows the quality, weight, and cost incurred.
Buy jewelry from BIS-accredited jewelers.
Also Read: Gold Price Today: Commodity Markets Remain Closed for the Morning Session, Gold Falls Below $4,000
International developments and local factors drive gold rates. On the global side, when bullion prices wobble, the USD index shifts, people start expecting different interest rates, inflation moves, or geopolitical tensions get louder, investor demand for gold often changes, sometimes pretty fast.
Locally, too, the same kind of movement happens but through different channels. Gold prices depend on the rupee exchange rate, customs duty, GST, transportation charges, and even seasonal demand around weddings or other festival times. In addition, central bank buying activity and broader global investment flows can also nudge gold prices. So, because all these things can change every day, gold prices get recalibrated accordingly across different cities.
