According to the latest gold and silver prices, on Wednesday, 22-carat gold prices in India are at Rs 5,545 per gram, while for 24-carat the price is at Rs 6,049 per gram.On October 18, the price of 22-carat gold was Rs 55,450 grams Rs 60,490 for 10 gm 24-carat gold and silver at Rs 73,600 per kg respectively, according to GoodReturns. While, the silver rate was at Rs 74.10 per gram whereas for 10 grams it was at Rs 736.Check rates of Gold and Silver here:Cities22-carat Gold (10 gm)24-carat Gold (10 gm)Silver (1 kg)Delhi55,10060,10074,100Mumbai55,45060,49074,100Chennai55,15060,16077,500Kolkata55,45060,49074,100Bengaluru55,45060,49074,500Hyderabad55,45060,49077,500Kerala55,45060,49077,500What determines gold and silver ratesTo comprehend the fluctuations in gold and silver rates, its crucial to know the factors that influence them. These include:Global Market Trends – Global economic conditions, geopolitical events, and currency fluctuations can significantly impact the rates of gold and silver in India.Local Demand and Supply – Domestic factors, such as festive seasons and weddings, influence the demand for gold in India. Moreover, mining and import policies play a role in supply and pricing.Investment Opportunities:Buying Gold and Silver – Learn about various ways to invest in gold and silver, from physical purchases to digital investments like ETFs and sovereign gold bonds.In a country where gold and silver are more than just commodities, understanding their rates and significance is essential. By staying informed about global and local factors affecting their prices and making strategic investment decisions, you can navigate the ever-changing landscape of gold and silver rates in India.
