Gold price today Rises In India: Check 22 Carat Price In Your City On June 04

gold rate today

Gold price today Rises In India: On Tuesday, June 4 the price of gold recorded a decrease and the pure 24-carat gold was priced at Rs.7349.9 per gram and 22-carat gold was priced at Rs.6732.5 per gram.

24-carat gold recorded a decrease of Rs.449 and the 22-carat gold noted a drop of Rs.411.

On Multicommodity exchanges, gold futures contracts recorded a rise of Rs 980 from yesterday's price of Rs 71,359 to today’s price of Rs 72,339 per 10 grams. The silver market, on the other hand, saw prices drop and priced at Rs 93,400 per kilogram.

On the MCX, the silver futures contracts are priced at Rs 92,255 which are expiring on July 5, 2024.

The price per 10 grams of gold in Delhi, Chennai, Mumbai, and Kolkata are ₹73,499, ₹73,427, ₹73,283, and ₹73,929 respectively.

Factors affecting gold price

Gold is a significant asset for the Indian People as it is used in various cultural activities and especially women wear it most of the time.

However, there are various factors that affect the gold price in India, let’s take a look at what are those:

Interest Rates

There are inverse bonds between Interest rates and gold prices. When gold prices rise the interest rates fall or vice versa.

Rupee and Dollar relation

Just like the interest rates, rupee and dollar are also inversely related that is if the rupee falls against the dollar, gold prices will probably go up in rupee terms or vice versa.

Geopolitical factors

When there are a lot of political ups and downs such as crises like wars or dead of an important leader, the demand for gold will increase.

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