gold price today
Gold-Silver Price Today: A slight decline was seen in the prices of gold on Tuesday, 16 December. After the rise in the last few days, investors started booking profits, the effect of which was visible in the domestic market as well. Gold rates have come down especially in metros. At the same time, silver prices remain at a high level.
In Mumbai, 24 carat gold came at Rs 1,33,860 per 10 grams, while 22 carat gold was seen trading around Rs 1,22,700 per 10 grams. These prices are without GST and making charges, which means the total expenditure while buying jewelery can be more than this.
strength in silver price
While gold showed softness, silver remained strong. The price of silver in the spot market was recorded at Rs 1,99,100 per kg. Despite high prices, industrial demand and investor interest are supporting silver.
Today’s gold rate in major cities (16 December)
Below are the latest rates of 22K and 24K gold in major cities of the country. These rates may vary slightly depending on the jeweler and local tax.
Why is demand weak even during wedding season?
Although the wedding season is going on in the country, the demand for gold does not seem to be that strong due to high prices. According to media reports, customers are postponing purchases after prices reached record levels. For this reason, jewelers are also purchasing in limited quantities. Dealers say that due to high rates the number of customers in the showroom has reduced. Recently, gold had touched the level of above Rs 1.32 lakh per 10 grams, after which the market became sluggish.
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Major factors determining gold prices
Gold prices in India keep changing due to many reasons. The movement of gold in the international market, the position of the rupee against the dollar, import duties and taxes, all together decide the daily rate. Apart from this, the global economic environment and investors’ sentiments also affect the prices.
What is the signal for investors?
In India, gold is not only an investment but also a symbol of tradition and security. In changing market conditions, it is important for investors to keep an eye on the daily rates and not take hasty decisions. Investment done at the right time and with the right information can give better returns in the long run.