Gold and silver held firm on as the week opened. Retail rates in most cities barely moved, while wholesale benchmarks ticked up.
Ten grams of 24-carat gold is selling at around Rs 1.44 lakh up by 1.3 per cent in most major cities. The 22-carat variety is near Rs 1.32 lakh, and 18-carat is around Rs 1.08 lakh. In Delhi, 24K gold costs Rs 14,359 per gram and 22K costs ,174, according to Goodreturns.
Silver is quoted at about Rs 2.05 lakh a kg across most cities. It reported a gain of 2.3% from its previous close.
The bullion market told a slightly different story. All India Bullion’s Mumbai reference rate put 24K gold at Rs 1,46,398 per 10 grams, up 0.95 per cent from the previous close. Silver (999) gained 1.37 per cent to Rs 1,93,319 per kg. Retail prices usually trail these benchmarks, which is why the two sets of numbers don’t match.
Anyone planning to buy jewellery should expect to pay more than these rates. Taxes and making charges vary by city and by jeweller.
With the wedding season on, demand may hold up. Traders will be would be cautious over global cues and the rupee for the next move.