Gold Prices Decline Across Major Indian Cities: City-Wise Details
Gold prices have witnessed a significant drop in major Indian cities like New Delhi, Mumbai, Kolkata, Hyderabad, and Bengaluru, providing relief during the wedding season. Customers are expected to benefit from the cost reductions, which will support the growth of jewelry businesses.
Highlights
- •In New Delhi, gold prices for 22-carat and 24-carat have dropped by ₹3,400 and ₹3,570 respectively, leading to savings of up to ₹10,300 in total per 10 grams.
- •Mumbai has seen a similar decline with the price of 22-carat gold reducing to ₹138,850 per 10 grams from ₹142,250 and for 24-carat to ₹149,360 from ₹149,360.
- •Kolkata has also experienced significant cuts with both varieties pricing at around ₹146,840 per 10 grams after their respective drops of ₹3,400 and ₹3,570.
- •Residents in Hyderabad now have the benefit of purchasing gold for a cost that is more affordable by dropping prices from ₹143,000 to ₹139,500 for 22-carat and from ₹150,150 to ₹146,480 per 10 grams.
Gold prices in major cities across India have been on a steady decline, providing relief to customers during the wedding season. The cost of gold has seen significant drops, particularly for 22-carat and 24-carat varieties.
In New Delhi, where 22-carat gold was initially priced at ₹142,750 per 10 grams and 24-carat at ₹149,890, it has now reduced to ₹139,350 and ₹146,320 respectively. The decrease in price is attributed to the bullion market, where gold worth 22 carats has plummeted by ₹3,400 per 10 grams.
Mumbai, the financial hub of Maharashtra, saw a similar trend where 22-carat gold began at ₹142,250 and 24-carat at ₹149,360, now dropping to ₹138,850 and ₹149,360 per 10 grams respectively. This reflects a reduction of ₹3,400 for the former and ₹3,570 for the latter.
West Bengal's capital, Kolkata, also witnessed a drastic cut in gold prices where the price of 22-carat gold is now at ₹139,850 per *tola* (about 18.07 grams). The reduction for 24-carat gold stands at ₹3,570, making it ₹146,840 per 10 grams.
Hyderabad, the capital of Telangana, has seen a significant decrease in prices as well, where 22-carat gold now fetches ₹139,500 per *tola*, and 24-carat costs ₹146,480 per 10 grams, down from ₹143,000 and ₹150,150 respectively.
The central city of Bengaluru also experienced a notable drop in gold prices. The price of 22-carat gold is now at ₹139,450 per *tola* and for 24-carat, it has reduced to ₹146,420 per 10 grams.
Overall, these changes mean that customers can expect savings after the wedding season as they purchase gold. The decline in prices is also expected to boost jewelry business operations across various regions of India.
