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Gold Price Falls In India On August 14: Check 22 Carat Rate In Your City Here – News18

Check gold rates in different cities on August 14, 2023. (Representative image)

Gold rate today in India: Retail gold price in India is the price at which gold is sold to consumers in India.

Gold Rate Today In IndiaOn August 14, the retail price of gold in India for 10 grams of the yellow metal is trending at approximately Rs 60,000 in many cities. Specifically, 10 grams of 24-carat gold is priced at Rs 59,620, while the same quantity of 22-carat gold costs Rs 54,650. In contrast, silver is priced at Rs 73,000 per kilo.

Regarding retail prices in different cities, Ahmedabad’s retail gold price is Rs 54,700 for 22-carat gold and Rs 59,670 for 24-carat gold per 10 grams. This article will be updated if there are any changes in the prices during the day.

August 14 Retail Gold Price In India (See table below)

Chennai Gold Price

22 carat gold is Rs 55,000/10 grams in Chennai. Similarly, Tamil Nadu’s capital city has Rs 60,000 per 10 grams retail price of 24 carat gold.

Noida Gold Price

In Noida, 22 carat gold was priced at Rs 54,800/10 gram. For 24 carat, customers have to pay Rs 59,760/10 grams.

Check gold rates today in different cities on August 14, 2023; (In Rs/10 grams) 

City 22 Carat Gold Price 24 Carat Gold Price
Delhi 54,800 59,760
Mumbai 54,650 59,620
Kolkata 54,650 59,620
Lucknow 55,800 59,760
Bengaluru 54,650 59,620
Jaipur 54,800 59,760
Patna 54,700 59,670
Bhubaneshwar 54,650 59,620
Hyderabad 54,650 59,620

On August 14, on Multi Commodity Exchange, gold futures maturing on October 05, 2023 were trading at Rs, 58,882. On the other hand, Silver, maturing on Sep 05, was at Rs 69,787.

Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.

Here are some factors that can affect the gold rate:

Demand and supply: The gold rate is primarily determined by the interplay of demand and supply in the market. When the demand for gold increases, the rate tends to rise as well. Conversely, if the supply of gold surges, the rate is likely to decrease.

Global economic conditions: Global economic conditions also exert a significant influence on the gold rate. During times of global economic downturns, investors often turn to gold as a safe haven, leading to an upward push in the gold rate.

Political instability: Furthermore, political instability can have an impact on the gold rate too. In instances where there is political turmoil or crisis in a major country, investors may seek to protect their assets by investing in gold as a hedge against uncertainty, leading to an increase in the gold rate.

Moreover, the retail gold price in India is the price at which gold is sold to consumers in India. It is determined by a number of factors, including the global gold price, the Indian rupee, and the cost of labor and materials involved in manufacturing gold jewellery. The retail gold price in India is typically higher than the global gold price, as it includes a margin for the jeweller and other costs.

Gold is considered as an important part in India due to cultural significance, investment value, and its traditional role in weddings and festivals.

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