Gold price FALLS on August 17: Check 22k, 24k gold rates in your city

Latest gold prices in your city: In Delhi, 24-carat gold is at Rs 1,01,330 and 22-carat at Rs 92,900 per 10 grams. In other metros like Kolkata, Mumbai, and Chennai, 24-carat gold is Rs 1,01,180 and 22-carat is Rs 92,750. In Lucknow, Chandigarh, and Jaipur, 24-carat gold sells for Rs 1,01,330 and 22-carat for Rs 92,900 per 10 grams.

How are gold prices determined? Several international and local factors influence gold and silver prices daily. International market prices are set in US dollars, directly impacting the dollar-rupee exchange rate. A strong dollar or weak rupee makes gold and silver more expensive in India. Import duties, GST, and local taxes also affect consumer prices, as India is a major gold importer.

Global economic and political situations also affect gold and silver prices. During war, recession, inflation, or interest rate changes, investors see gold as a safe haven, increasing its price. Conversely, stable conditions can lower prices. Demand and supply also play a significant role, especially in countries like India, where weddings and festivals drive gold demand, pushing prices up.

Gold is considered a safe investment with good returns, especially during inflation or when other assets are risky. People prefer gold when inflation rises or share markets fluctuate. Also, when central banks add gold to their reserves, global demand and prices increase. Gold and silver prices depend on dollar fluctuations, taxes, import duties, global situations, local demand, and investor behavior.