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Gold price today in India on August 23: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)
Gold price today in India: Gold rates are generally influenced by a variety of factors, including global economic conditions and inflation rates.
Gold Rate Today In India: As of August 23, the retail cost of 10 grams of gold in India stands at around Rs 59,000 across numerous cities. To break it down further, 10 grams of 24-carat gold commands a price of Rs 59,130, whereas an equivalent amount of 22-carat gold carries a price tag of Rs 54,200. In comparison, silver is valued at Rs 74,800 per kilo.
Gold price today
The retail price of 22-carat gold in Ahmedabad is Rs 54,100 per 10 grams and the rate of 24-carat gold is Rs 59,020 per 10 grams. This article will be updated if the prices change during the day.
August 23 Retail Gold Price In India (See table below)
Delhi Gold Price
In Delhi, 22 carat gold was priced at Rs 54,300/10 gram. For 24 carat, customers have to pay Rs 59,220/10 grams.
Chennai Gold Price
22 carat gold is Rs 54,550/10 grams in Chennai. Similarly, Tamil Nadu’s capital city has Rs 59,500 per 10 grams retail price of 24 carat gold.
Check gold rates today in different cities on August 23, 2023; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Mumbai | 54,200 | 59,130 |
| Gurugram | 54,300 | 59,220 |
| Kolkata | 54,200 | 59,130 |
| Lucknow | 54,300 | 59,220 |
| Bengaluru | 54,200 | 59,130 |
| Jaipur | 54,300 | 59,220 |
| Patna | 54,100 | 59,020 |
| Bhubaneshwar | 54,200 | 59,130 |
| Hyderabad | 54,200 | 59,130 |
On August 23, on Multi Commodity Exchange, gold futures maturing on October 05, 2023 were trading at Rs, 58,559. On the other hand, Silver, maturing on Sep 05, was at Rs 72,217.
Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.
Here are some factors that can affect the gold rate:
Demand and supply: The gold rate is primarily determined by the interplay of demand and supply in the market. When the demand for gold increases, the rate tends to rise as well. Conversely, if the supply of gold surges, the rate is likely to decrease.
Global economic conditions: Global economic conditions also exert a significant influence on the gold rate. During times of global economic downturns, investors often turn to gold as a safe haven, leading to an upward push in the gold rate.
Political instability: Furthermore, political instability can have an impact on the gold rate too. In instances where there is political turmoil or crisis in a major country, investors may seek to protect their assets by investing in gold as a hedge against uncertainty, leading to an increase in the gold rate.
Furthermore, the retail price of gold in India denotes the cost at which gold is vended to consumers within the country. This value is influenced by various elements such as the worldwide price of gold, the Rupee’s value, and the expenses related to labour and materials engaged in crafting gold jewellery.
Gold is considered as an important part in India due to cultural significance, investment value, and its traditional role in weddings and festivals.
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