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Gold And Silver Prices Today On May 17, 2024: Check Rates In Your City

There was an increase of Rs 100 for a kilogram of silver. Gold prices rose by Rs 10, selling for Rs 67,860 per ounce.

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Gold And Silver Prices Today On June 10

Gold And Silver Prices Today On May 17: A ten-gram piece of 24-carat gold traded at Rs 74,030 in early trade on Friday, according to GoodReturns.

There was an increase of Rs 100 for a kilogram of silver. Gold prices rose by Rs 10, selling for Rs 67,860 per ounce.

Gold And Silver Prices Today On May 17:

CITY 22 CARAT GOLD PRICE 24-CARAT GOLD PRICE
Delhi 67,750 73,900
Mumbai 67,600 73,750
Ahmedabad 67,650 73,800
Chennai 67,700 73,850
Kolkata 67,600 73,750
Gurugram 67,750 73,900
Lucknow 67,750 73,900
Bengaluru 67,600 73,750
Jaipur 67,750 73,900
Patna 67,650 73,800
Bhubaneshwar 67,600 73,750
Hyderabad 67,600 73,750

Gold futures on the Multi Commodity Exchange (MCX) for June 2024 expiry opened lower at ₹72,907 per 10 gm and touched an intraday low of ₹72,853 per 10 gm.

COMEX gold price oscillates around $2,380 per troy ounce, while spot gold price hovers around $2,377 per ounce.

It serves as a valuable investment and maintains traditional ties to weddings and festivals in India.

As market fluctuations continue, investors and traders closely monitor these dynamics. Stay tuned for further updates.

India’s gold rate is influenced by five factors

Global market trends

The gold rate in India is influenced by a dynamic between gold supply and demand.

Local market demand and supply

In India, gold is more than just a precious metal.

As a result of disruptions in supply, changes in import duties, and high demand during festivals and weddings, gold prices can fluctuate.

Understanding local supply and demand is crucial to determining gold rates in different cities.

Government policies and regulations

Import restrictions and taxes can affect India’s gold rate.

Exchange rate

Indian gold prices are influenced by the exchange rate between Indian Rupees (INR) and US Dollars (USD).

It is possible for gold prices in India to be affected by the strength or weakness of the rupee.

Due to its cultural significance, its value as an investment, and its association with weddings and festivals, gold is very significant in India.

Also Read: Gold And Silver Prices Today On May 16, 2024: Check Rates In Your City

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