India's Gold Price Surges as International Rates Rise
The price of gold in India has surged on September 19th, with 24K gold reaching ₹15,442 per gram, a daily increase of ₹158. This represents a significant rise for investors, with a 10-gram purchase now costing ₹1,54,420. The current rate is indicative and may differ from the quoted price by individual jewellers.
The international price of gold will play a role in determining the domestic market, but the exchange rate between the rupee and dollar has a significant impact on imported gold prices. A fall in the value of the rupee can lead to increased costs despite stable international rates.
Gold prices have been volatile over the past 10 days, with several upturns and downturns. The current silver price is ₹250 per gram, with a 1-kg purchase costing ₹2,50,000. The latest quoted price for silver has risen by ₹5 per gram or ₹5,000 per kg.