Gold Prices Today On March 25 2024: According to an analysis of the market, 10 grams of 24-carat gold averaged around Rs 66,810, while 22-carat gold averaged around Rs 61,240 on March 25, 2024.
The Multi Commodity Exchange (MCX) traded gold futures contracts expiring on April 5, 2024 for Rs 65,870 per ten grams on March 22, 2024. Silver futures contracts expiring on May 3, 2024 traded for Rs 74,810.
Gold and Silver Prices Today On March 25 2024: Check Rates In Your Cities
| CITY | 22 Carat Gold Price | 24-Carat Gold Price |
| Chennai | 61,840 | 67,460 |
| Kolkata | 61,240 | 66,810 |
| Gurugram | 61,390 | 66,960 |
| Lucknow | 61,390 | 66,960 |
| Bengaluru | 61,240 | 66,810 |
| Jaipur | 61,390 | 66,960 |
| Patna | 61,290 | 66,860 |
| Bhubaneshwar | 61,240 | 66,810 |
| Hyderabad | 61,240 | 66,810 |
Factors Affecting Gold Prices?
Gold prices are affected by many factors, including:
- Gold is an important asset to support the Indian currency. When the RBI purchases or exports more gold, gold prices tend to rise in the country and across states.
- Having a strong dollar lowers the price of gold, while having a strong dollar increases the U.S. dollar’s value. Since gold’s price is determined by the US dollar, which is then converted to the Indian rupee, it is likely that when the Indian rupee depreciates against the dollar the price of gold will also fall.
- Demand for gold rises in India and across states, driven mostly by household and industrial demand, but also by investment demand.
- The capacity of gold mining companies can also affect gold prices in a country. For example, if gold mining companies increase their production costs, gold prices increase.
- The London Bullion Market Association (LMBA) sets gold prices twice a day. The Indian Bullion Jewellers Association (IBJA) determines gold prices based on global prices, currency exchange rates, import duties, and other factors.
Besides the metal’s intrinsic value, the gold rate determines the retail price of gold in India. Due to its cultural significance, its investment value, and its role in weddings, gold is highly valued in India.
Check Out:Gold and Silver Rates Today On March 23 2024: Check Rates In Your Cities
