Gold And Silver Prices Today On April 28: Approximately Rs 72,000 was the price of 10 grams of pure gold on April 28. 24-carat gold is valued at approximately Rs 72,930 per 10 grams, while 22-carat gold is valued at approximately Rs 66,850 per 10 grams.
Additionally, the silver market saw an upward trend, reaching Rs 84,000 per kilogram.
Gold And Silver Prices Today On April 28
| City | 22-carat gold price | 24-carat gold price |
| Chennai | 67,700 | 72,760 |
| Kolkata | 66,850 | 72,930 |
| Gurugram | 67,000 | 73,080 |
| Lucknow | 67,000 | 73,080 |
| Bengaluru | 66,850 | 72,930 |
| Jaipur | 67,000 | 73,080 |
| Patna | 66,900 | 72,980 |
| Bhubaneshwar | 66,850 | 72,930 |
| Hyderabad | 66,850 | 72,930 |
As the MCX remains closed on Saturdays and Sundays, the commodity exchange was closed on April 28, 2024.
The MCX saw active trading on April 26, 2024 (Friday), for gold futures contracts expiring on June 5, 2024. These contracts were priced at Rs 70,740 per 10 grams. Meanwhile, silver futures contracts expiring on May 3, 2024, were quoted at Rs 80,135 per 10 grams.
When consumers purchase gold, the gold price in India is often referred to as the retail gold price. Metal prices are influenced by a variety of factors beyond their inherent value.
Five factors influence India’s gold rate
Global market trends
The gold rate in India is influenced by the international supply and demand dynamics of gold.
Local market demand and supply
In India, gold is more than just a precious metal.
Gold prices can change due to supply disruptions, changes in import duties, and high demand for gold jewelry during festivals and weddings.
By understanding the local demand and supply dynamics, you can determine the gold rate in different cities.
Government policies and regulations
India’s gold rate can be affected by taxes, duties, and restrictions on gold imports.
Keep an eye on government announcements if you’re interested in gold rates in Kerala, since gold is a hedge against inflation.
Exchange rate
The exchange rate between the Indian Rupee (INR) and the US Dollar (USD) can affect gold prices in India.
Currency movements are important for monitoring gold prices in India, as they can increase or decrease when the rupee is strong or weak.
Due to its cultural importance, its value as an investment, and its traditional association with weddings and festivals, gold has great significance in India.
The market fluctuation kept investors and traders on their toes. Stay tuned for more updates.
Also Read: Gold And Silver Prices Today On April 26: Check Rates In Your City
