Gold price in India today remains unchanged; 24 karat yellow metal is at Rs 30,401

Gold price in India today for 24 karat gold is Rs 30,401 per 10 grams, while the price for 22 karat gold is 27,868 per 10 grams. 24 karat gold, also know as 999 gold, is the purest form of gold available in market in the form of gold coins and bars. Similarly, 22 karat gold is known as 916 gold and is generally used to make jewellery, according to goldpriceindia.com. Gold price in India varies across cities dues to various local market factors like demand and supply of gold, state government taxes and transportation charges of physical gold.

Gold price in India for 24 karat and 22 karat gold from major city markets across the country have been given below in rupees per 10 grams:

(Source: https://www.goldpriceindia.com)

Highest gold price in the month of March 2018 was Rs 30,673 per 10 grams while the lowest gold price was Rs 30,154. Gold price on 01 Mar 2018 was Rs 30,193 per 10 grams.

Meanwhile, a divergent trend prevailed at the bullion market during the week with gold prices drifting further lower by Rs 50 to end at Rs 31,450 per ten grams on Friday, owing to slackened demand from local jewellers, while silver staged recovery on mild demand from consuming industries.

Traders said muted demand from local jewellers and retailers at domestic spot market mainly kept gold prices marginally lower.

Globally, gold after moving both ways finally settled a shade higher at $1,323.10 an ounce in New York.

In the national capital, gold of 99.9 and 99.5 per cent purity commenced the week lower at Rs 31,450 and Rs 31,300 per ten grams respectively on tepid demand.

Later, it staged a recovery on the back of a firm global cues and climbed to Rs 31,670 and Rs 31,520 per ten grams respectively before ending at Rs 31,450 and Rs 31,300 per ten grams respectively, showing a modest loss of Rs 50 each.

Sovereign, however, moved in a narrow range in limited deals and settled at previous week's level of Rs 24,800 per piece of eight gram.

In volatile movements on alternate bouts of buying or selling, silver ready ended the week higher by Rs 120 to Rs 39,650 per kg and weekly-based delivery finished higher by Rs 610 to Rs 38,945 per kg.

On the other hand, silver coins maintained a steady trend at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces during the period.