Gold price surges to record high
In the international market, spot gold was up 0.2 per cent at $2,283.76 per ounce in morning trade after touching an all-time high of $2,288.09 earlier in the session.
In the international market, spot gold was up 0.2 per cent at $2,283.76 per ounce in morning trade after touching an all-time high of $2,288.09 earlier in the session.
The yellow metal has multiple significance like religious connotations, family heirloom, gifts, status symbol, investment among other purposes.
The decision to introduce a uniform price on 916 purity 22-carat gold has been taken at a meeting between officials of Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country, and key members of All Kerala Gold and Silver Merchants Association which sets the board rate for gold.
10 gram of 24 carat gold priced Rs 51,280 in India, while 10 gram of 22 carat gold cost Rs 47,000.
10 gram of 24 carat gold priced Rs 50,840 in India, while 10 gram of 22 carat gold cost Rs 46,600.
On September 19, 2022, the price of 24 and 22 carat gold in India remain unchanged. On Monday, the price of 10 gram of 24 carat gold in India is Rs 49,340, while 10 grams of 22 carat gold cost Rs 45,200.
On September 17, 2022, the price of 24 and 22 carat gold in India has continued to drop. As of Saturday, the price of 10 gram of 24 carat gold in India is Rs 49,960, while 10 grams of 22 carat gold cost Rs 45,800.
The yellow metal had closed at Rs 46,047 per 10 gram, in the previous trade.
On a 30-day rolling basis, gold price has corrected 10 per cent over the past six months, while on an absolute basis it fell twice that rate.
Gold futures in the domestic market have dropped 20 per cent since the highs recorded in August last year.
