Gold prices remained high in India on Thursday, August 27, as the precious metal remained close to record-high levels. Bullion.co.in said 24K gold was priced at ₹1,59,400 per 10 grams, while 22K gold was at ₹1,46,117 per 10 grams at 6:30 am on Thursday.
The latest gold prices come as the yellow metal continues to deliver strong returns for investors over the longer term. Gold fell about 0.3% in the last week, but its one-year return was on par with 57% - a strong gain for the precious metal in the last year.
There is some variation in prices across the major Indian markets city-wise. Of the cities listed, Chennai had the highest gold prices, whereas Delhi had the lowest rates. Local taxes, transportation costs, demand, and other market-related factors can make cities vary significantly.
Gold Rate Today In India
The national reference price for 24K gold was ₹1,59,400 per 10 grams on August 27. 22K gold was available at ₹1,46,117 per 10 grams.
For the buyer, retail jewellery prices can vary from bullion prices quoted. Jewellery purchases may involve charges, GST, and other costs, and the final price paid at a jewellery store can be higher than the basic gold rate.
City-Wise 24K Gold Prices
Here are the latest 24K gold prices per 10 grams in major Indian cities:
City 24K Gold Price / 10gm
- Mumbai ₹1,59,120.
- Delhi ₹1,58,840.
- Chennai ₹1,59,580.
- Kolkata ₹1,58,910.
- Bengaluru ₹1,59,240.
- Hyderabad ₹1,59,370
Chennai came to the top with 24K gold at ₹1,59,580 per 10 grams. Delhi was the lowest among the listed cities with ₹1,58,840.
City-Wise 22K Gold Prices
The 22K gold rates also varied across the major markets.
City 22K Gold Price / 10gm.
- Mumbai ₹1,45,860.
- Delhi ₹1,45,603.
- Chennai ₹1,46,282.
- Kolkata ₹1,45,668.
- Bengaluru ₹1,45,970.
- Hyderabad ₹1,46,089
Chennai recorded the highest price among the listed cities at ₹1,46,282 per 10 grams, and Delhi remained the lowest at ₹1,45,603.
Silver Rate Today
Silver prices also stayed very high on August 27. The price of 999 fine silver was ₹2,40,200 per kg, while 925 sterling silver was ₹2,22,185 per kg.
Silver has seen a sharper correction recently than gold. The 999 fine silver rate declined around 1.7% in the past week. But its long-term performance is still very strong, with the one-year return around 107%.
City-Wise Silver Prices
The latest 999 fine silver prices per kilogram in major cities are:
City Silver 999 Fine / Kg
- Mumbai ₹2,39,770.
- Delhi ₹2,39,360.
- Chennai ₹2,40,470.
- Kolkata ₹2,39,450.
- Bengaluru ₹2,39,960.
- Hyderabad ₹2,40,150
Chennai had the highest silver price among the listed cities at ₹2,40,470 per kg. Delhi had the lowest at ₹2,39,360 per kg.
Gold And Silver Investors Keep A Close Watch
The latest figures emphasize the different short-term performances in the precious metals market. Gold has only dropped a little weekly and still has a big one-year gain. Silver has seen a bigger weekly loss but still has seen a much higher return in the past year.
Investors and consumers also have to remember that bullion rates can also change during the day depending on the prices of international precious metals, the movement in currency, and the domestic market.
The August 27 prices therefore provide a snapshot of the market around the time of reporting and may differ from rates available later in the day.
With 24K gold at ₹1,59,400 per 10 grams and 999 fine silver at ₹2,40,200 per kg, precious metals are still at very high prices in India. Buyers should be able to compare current rates with the additional jewellery costs and invest wisely, and should not only accept the recent outcome as their only criterion.
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