As the new week begins, there haven’t been significant changes in the prices of gold, while silver has experienced a slight decline. The latest rates indicate that gold continues to trend at its previous levels, but there’s a marginal decrease in silver prices. After the adjustment, the current rates stand at around INR 67,000 for gold and INR 76,000 for silver.
Gold Rates as of March 11, 2024
On Monday, the bullion market released the updated rates for both 22-carat and 24-carat gold. For 22-carat gold, the price for 10 grams is INR 60,900, while 24-carat gold is trading at INR 66,420 for the same quantity. The rate for 18 grams of gold is approximately INR 49,830. These prices suggest a relatively stable market for gold with minor fluctuations.
Silver Rates as of March 11, 2024
The rate for one kilogram of silver is currently INR 75,600. This marks a reduction of INR 100 from the previous rate, indicating a subtle shift in the silver market. The prices for silver can vary based on the city, and it’s advisable for buyers to stay updated with the latest rates.
City-wise Variations in Silver Prices
Different cities in India witness slight variations in the prices of precious metals. For instance, in Jaipur, Kolkata, Ahmedabad, Lucknow, Mumbai, Delhi, and other major cities, the price of one kilogram of silver is INR 75,600. In contrast, in Chennai, Madurai, Hyderabad, and Kerala, the rate is slightly higher, standing at INR 79,000.
City-wise Gold Rates for 22-carat and 24-carat Gold
For 22-carat gold, the rates for 10 grams in Bhopal and Indore are INR 60,650, while in cities like Jaipur, Lucknow, Delhi, the rate is INR 60,900. In Hyderabad, Kerala, Kolkata, Mumbai, the price is INR 60,750. For 24-carat gold, the rates for 10 grams in Bhopal and Indore are INR 66,500, and in cities like Delhi, Jaipur, Lucknow, Chandigarh, it is INR 66,420. In Hyderabad, Kerala, Bengaluru, Mumbai, the price is INR 66,270, and in Chennai, it is INR 67,100.
Quality Standards for Gold
The purity of gold is denoted by hallmarks issued by the Indian Standard Organization (ISO). Gold is commonly sold in 20 and 22-carat forms, with some individuals also opting for 18-carat gold. It’s important to note the purity percentages associated with each carat type, with 24-carat gold being 99.9% pure.
It’s recommended for buyers to verify the latest rates with local jewelers, considering the symbolic nature of the provided rates and the absence of taxes such as GST and TCS.