Todays Gold-Silver Price: Gold Cheap or Expensive? Know the prices in your city in one click

• On June 19, 24 carat gold in India was recorded at Rs 1,49,500 per 10 grams and silver at Rs 2,59,900 per kg.
• Prices in India saw a limited decline despite a fall of around 10% in gold prices and 8% in silver prices in the global market.
• A 15% increase in import duty and the placing of silver in the restricted category supported the prices by reducing domestic supply.

Gold Rate Today: In India on June 19, 24 carat gold was priced at Rs 14,950 per gram, 22 carat gold at Rs 13,704 per gram and 18 carat gold at Rs 11,212 per gram. In India on June 19, 22 carat gold was priced at Rs 1,37,040 per 10 gm, 24 carat gold at Rs 1,49,500 per 10 gm and 18 carat gold at Rs 1,12,120 per 10 gm. Silver price in India on June 19 was Rs 259.90 per gram and Rs 2,59,900 per kg.

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In Delhi today, 22 carat gold is priced at Rs 1,37,190 per 10 grams, 24 carat gold at Rs 1,49,650 per 10 grams and 18 carat gold at Rs 1,12,270 per 10 grams. In Surat today, 22 carat gold is priced at Rs 1,37,090 per 10 gm, 24 carat gold at Rs 1,49,550 per 10 gm and 18 carat gold at Rs 1,12,170 per 10 gm. Today in Nashik city, 22 carat gold is priced at Rs 1,37,070 per 10 gm, 24 carat gold at Rs 1,49,530 per 10 gm and 18 carat gold at Rs 1,12,150 per 10 gm. (Photo Courtesy – AI Created)

Indian consumers are not benefiting from the sharp drop in gold and silver prices in the international market. Despite the global recession, Indian buyers are paying more for gold and silver. The main reason for this discrepancy is the central government’s decision to increase import duty by 15 percent and put silver in the restricted category. This decision has brought an abrupt halt to the flow of gold and silver into the country, which has prevented domestic market prices from falling as much as foreign markets.

World Status and India

According to the Global Trade Research Initiative (GTRI) and the latest market data, gold prices in foreign markets fell to $4,286 per ounce from $4,650 in May, a significant decline of nearly 10 percent. In contrast, gold prices in the Indian market fell by just 3% from Rs 1,52,000 per 10 grams during the same period, similar to silver.

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Silver prices in the foreign market fell to $68.39 per ounce from $74.5 an ounce, representing a decline of approximately 8%. However, silver prices in the Indian bullion market remained steady at Rs 243,000, down only 4% from the record high of Rs 2,45,000 per kg. Clearly, the fall in India’s imports has led to a shortage of supply in the domestic market, preventing a sharp drop in prices.

Note: The above gold rates are exclusive of GST, TCS and other taxes. Check with your local jeweler for exact rates.