Gold skyrockets Rs 440, Silver barely budges today: Check latest rates of December 29

According to GoodReturns, the price of 22-carat gold was at Rs 58,900 per gram; Rs 64,250 for 10 gm 24-carat gold and silver at Rs 79,500 per kg respectively.

Edited By: Alina Khan

Last Updated : 29 December 2023, 08:59 AM IST

The gold and silver prices on Friday have seen a significant change across the country. According to the GoodReturns, 22-carat gold prices in India are at Rs 5,890 per gram, while for 24-carat the price is at Rs 6,425 per gram.

Following a period of relative stability, Delhi witnessed a dramatic rise in gold prices on December 29, exceeding Rs 400. Although silver prices also increased, the change was minimal, registering less than Rs 1, as per Goodreturns data.

Today, the price of 22-carat gold is at Rs 58,900 per gram; Rs 64,250 for 10 gm 24-carat gold and silver at Rs 79,500 per kg respectively, according to GoodReturns. At the same time, the silver rate was Rs 79.50 per gram whereas for 10 grams it was Rs 795.

Check rates of Gold and Silver here:

Cities	22-carat Gold (10 gm)	24-carat Gold (10 gm)	Silver (1 kg)
Delhi	59,050	64,400	79,500
Mumbai	58,900	64,250	79,500
Chennai	59,450	64,850	81,000
Kolkata	58,900	64,250	79,500
Bengaluru	58,900	64,250	77,000
Hyderabad	58,900	64,250	81,000
Kerala	58,900	64,250	81,000

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.

Also Read

Tags :

Gold skyrockets Rs 440, Silver barely budges today: Check latest rates of December 29