22-Carat Gold Price In India: Prices Shows Downward Trend

22-Carat Gold Price Rate In India,

22-Carat Gold Rate In India: For the past three days, gold rates have been continuously decreasing which is a very good opportunity for an investor to put their money in gold. Gold is considered a valuable asset for investment whether it is digital gold or physical one.

Today, on May 20 the 22-carat gold prices are priced at Rs.6876.5 per gm which is a decrease of Rs 27 from yesterday's price.

The price of 24k gold has gone down by 0.34% but it has been 0.26% in the last month.

The 22-carat gold price per 10 grams in Delhi is priced at ₹75071 which is down by Rs 293 from yesterday's gold price. The gold price in Mumbai had shown an upward trend of RS 366 from yesterday's price. On May 20, the gold price is Rs 75584 per 10 grams in Mumbai.

The ongoing price in Kolkata is t Rs 75511 which also is an increase of Rs 147 from yesterday's price.

On MCX till June 5, 2024, gold will be priced at Rs 73,750 for 10 grams which is an increase of Rs 39. The last time it was priced at Rs 73,711 when the market closed.

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Top 3 Factors Affecting Gold Rates in India

There are several factors that affect the gold price, some of them are listed below:

Indian Rupee Value Against Dollar

This plays a significant role in determining the gold rates in India because if the value of the Indian rupee declines then the price of gold in india will increase and if the rupee value increases against the US dollar then the price of gold in india will decrease.

The Demand For Gold

Gold is very crucial for Indian people as it is used in various cultures and is also the core reason behind women's beauty. According to the reports, Indian women hold around 11% of the total gold in the world.

However, Gold is also used in Pujas as an offering to goddesses. Thus the demand for gold is very high in India which led to affecting the price of gold.

Relation Between Gold And Interest Rates

Gold prices will increase when the interest rates decrease or vice versa. Also, when the economy is strong, prices go up, and gold is bought to protect against inflation.

Thus, creating a negative link between gold and interest rates.

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