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Gold prices on October 16: Gold, Silver prices drop in India, check state-wise list

Gold and silver prices have decreased. Check the most recent gold prices in some of India's largest cities.

DNA Web Team

Updated : Oct 16, 2022, 02:36 PM IST | Edited by : Maitry Kothari

Gold prices on October 16: Gold, Silver prices drop in India, check state-wise list

The price of gold in India decreased on Sunday, with one gram of 22-carat gold being sold for 4,620 INR as opposed to 4,675 INR the day before, according to a report by Goodreturns. Similarly, the price of 10 grams of 22-carat gold dropped on Sunday to 46,200 from 46,750 on Saturday.

The price of eight grams of 22-carat gold is 39,960. A gram of 24-carat gold costs only 5,040 when compared to other precious metals. The data provided by good returns on Sunday showed that ten grams of 24-carat gold are currently available for 50,400.

The most recent gold prices in some of India's largest cities are listed below:

Delhi- ₹46,350 (22-carat), ₹50,550 (24-carat)
Mumbai- ₹46,200 (22-carat), ₹50,400 (24-carat)
Chennai- ₹46,900 (22-carat), ₹51,160 (24-carat)
Ahmedabad- ₹46,250 (22-carat), ₹50,450 (24-carat)
Kolkata- ₹46,200 (22-carat), ₹50,400 (24-carat)

Some of the most reputable jewellers in India are where the gold prices are obtained. The strength of the Rupee against US dollars is one of many variables that affect the prices. In other words, if the US dollar is strong, gold will cost more in India.

A decrease in silver prices also occurred in India at the same time. Today's price for a gram of silver is Rs. 55.30, down from Saturday's price of Rs. 57.30.

On Sunday, the price of 100 grams of silver is 5,530, down from 5,730 rupee on Saturday. On Sunday, the price of a kilogramme of silver is 55,300, down from 57,300 the day before.

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