On Sunday, gold prices increased by ₹10. According to the website Goodreturns, one gram of 22K gold was priced at ₹5,495 while a 24K gold costs ₹5,995.CITY22K GOLD PRICE (₹/10 GMS)24K GOLD PRICE (₹/10 GMS)DELHI55,10060,100MUMBAI54,95059,950KOLKATA54,95059,950CHENNAI54,95060,230BENGALURU54,95059,950Whereas, the price of silver increased by 30 paise on Sunday. According to the website Goodreturns, one gram of silver is worth ₹75.80. In Delhi, Mumbai and Kolkata, the price of 10 grams of silver is worth ₹758. The cost of silver in Chennai and Bengaluru were ₹793 and ₹742.50.India is the worlds second-largest gold consumer, surpassing China. The majority of the required amount of gold is supplied by imports and locally recycled domestic bullion. Therefore, in addition to dollar-denominated worldwide pricing, import taxes and other levies also affect domestic gold rates.The bond yields and the dollar rate can have an impact on the price of the precious metal, gold is viewed as a hedge against inflation.
