Gold Price Analysis – Prices hit 11-month low, check Delhi, Mumbai, Chennai, Kolkata, Lucknow gold rates
Gold prices plunged by as much as Rs 7,600 per 100 gram on Sunday (March 28), just a day ahead of Holi. The fall in price means that the price of 10-gram 22-carat gold on Sunday was Rs 43,920, according to Good Returns Website showed.
It is to be noted that gold prices continue to fall for the last few days hitting a nearly 11-month low. It may be recalled that gold futures for April delivery opened at Rs 44,974 per 10 gram, earlier this week. But it went down by Rs 100 per 100 gram after one day. On March 23, the rate of gold went down by Rs 1,200 per 100 gram. The downward trend of gold prices continued on Wednesday, Thursday, and Friday.
According to the Good Returns Website, the price of 22-carat gold in Delhi is Rs 44,050 per 10 gm, while in Mumbai it is Rs 43,000. In Chennai, the yellow metal is selling for Rs 42,320, In Vadodara and Ahmedabad, the yellow metal was trading at Rs 44,440 (for 10 grams of 22-carat gold).
Notably, the 22-carat and the 24-carat gold rates mentioned above are not showroom prices. It is expected that the price of gold may change after the inclusion of Goods and Services Tax (GST), TCS, and other taxes. The prices of gold and silver also vary across India due to the excise duty, state taxes, and other levies.