The price of gold saw a slight drop on Monday. The rate for 22-carat gold stood firm at ₹5,484 per gram, dropping ₹1. The larger quantities, such as 8 grams and 10 grams, were priced at ₹43,872 and ₹54,840 respectively. Also, the cost for 100 grams of 22-carat gold is valued at ₹5,48,400. Meanwhile, 24-carat gold was priced at ₹5,983 per gram.
Silver price maintained stability, with one kilogram of silver registering a nationwide cost of ₹73,500.
These price fluctuations are influenced by an array of factors, with input from reputable jewellers being a key component. Factors such as global gold demand, currency values in various nations, prevailing interest rates, and government regulations related to gold trade all contribute to these fluctuations. Additionally, global events, including the state of the global economy and the strength of the US dollar in relation to other currencies, exert their influence on gold prices within the Indian market.