Gold and Silver prices on January 17: Check rates of metro cities here

According to GoodReturns, the price of 22-carat gold was at Rs 58,050 per gram; Rs 63,330 for 10 gm 24-carat gold and silver at Rs 76,500 per kg respectively.

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Edited By: Alina Khan
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On January 17, the price of 22-carat gold was at Rs 58,050 per gram; Rs 63,330 for 10 gm 24-carat gold and silver at Rs 76,500 per kg respectively, according to GoodReturns. At the same time, the silver rate was Rs 76.50 per gram whereas for 10 grams it was Rs 765.

Check rates of Gold and Silver here:

Cities

22-carat Gold (10 gm)

24-carat Gold (10 gm)

Silver (1 kg)

Delhi

58,200

63,480

76,500

Mumbai

58,050

63,330

76,500

Chennai

58,500

63,820

78,000

Kolkata

58,050

63,330

76,500

Bengaluru

58,050

63,330

74,000

Hyderabad

58,050

63,330

78,000

Kerala

58,050

63,330

78,000

Economic Importance:

  • Investment and Security: Gold is seen as a safe haven and hedge against inflation, economic uncertainty, and currency fluctuations. Indians traditionally invest a significant portion of their savings in gold, considering it a secure and reliable form of wealth.

  • Employment and Industry: The gold industry in India is a major source of employment, driving the economy in mining, refining, manufacturing, and trading.

  • International Trade: India is one of the world's largest gold importers and consumers, influencing global gold prices and trade.