Gold Rate Today, Silver Rate Today, Live Gold & Silver Prices

In this article, we will provide you with the latest updates on gold and silver rates in India. Our aim is to offer comprehensive and detailed information that can help you make informed decisions about your investments. Whether you are interested in purchasing gold or silver, keeping track of price changes, or understanding the factors that influence these rates, we've got you covered.

Gold Rate Today, Silver Rate Today, Live Gold & Silver Prices

 Today, Live Gold & Silver Prices

Gold Rate Today

As of the last update on Sunday, 09 Jul 2023, at 09:25 AM (India Time), the gold rates in India are as follows:

Gold 24 Karat (Rs ₹): 59,000.00 per 10 grams

Gold 22 Karat (Rs ₹): 54,083.00 per 10 grams

Gold 20 Karat (Rs ₹): 49,167.00 per 10 grams

Gold 18 Karat (Rs ₹): 44,250.00 per 10 grams

Gold 16 Karat (Rs ₹): 39,333.00 per 10 grams

Gold 14 Karat (Rs ₹): 34,417.00 per 10 grams

Gold 12 Karat (Rs ₹): 29,500.00 per 10 grams

Gold 10 Karat (Rs ₹): 24,583.00 per 10 grams

Silver Rate Today in India

As of the last update on Sunday, 09 Jul 2023, at 09:25 AM (India Time), the silver rates in India are as follows:

Silver 999 Fine (Rs ₹): 71,410.00 per kilogram

Silver 925 Sterling (Rs ₹): 66,605.00 per kilogram

Silver 900 Coin (Rs ₹): 64,427.00 per kilogram

Silver 800 German (Rs ₹): 57,571.00 per kilogram

Gold & Silver Price Change in India

Let's take a look at the price changes over different time periods:

Name1 Day Ago (2023-07-08)1 Week Ago (2023-07-02)1 Month Ago (2023-06-09)1 Year Ago (2022-07-09)
Gold 24 Karat (Rs ₹/10gm)59,000.00 +0.00%58,370.00 +1.08%59,920.00 -1.54%51,910.00 +13.66%
Silver 999 (Rs ₹/1kg)71,410.00 +0.00%70,050.00 +1.94%74,100.00 -3.63%58,380.00 +22.32%

Live Exchange Rates

Here are the live exchange rates for gold and silver:

NamePriceChangeChange %HighLowPreviousLast Update (India Time)
Gold - India MCX (Rs ₹/10gm)58,792.00391.000.67%58,949.0058,331.0058,401.0009 Jul, 09:25
Silver - India MCX (Rs ₹/1kg)71,333.001,009.001.44%71,396.0070,099.0070,324.0009 Jul, 09:25
Gold - US Comex (USD $/Ounce)1,930.5015.100.79%1,941.101,915.401,916.6009 Jul, 09:25
Silver - US Comex (USD $/Ounce)23.290.401.73%23.3722.8022.9109 Jul, 09:25

Factors Determining Silver Price in India Today

Understanding the factors that impact silver prices in India today is essential for investors and individuals looking to buy or sell silver. Here are some key factors to consider:

International Prices: Silver prices in India are influenced by the international markets. Generally, silver prices tend to move in tandem with gold prices. When gold prices rise, silver prices also rally, and vice versa.

Interest Rates and Inflation: Interest rate movements and inflationary trends in the country also play a significant role in determining the per gram silver rate in India. Changes in interest rates and inflation levels can impact the overall demand for silver.

Supply and Demand: Like all other metals, the price of silver is determined by the balance between supply and demand. If the demand for silver is high, the price tends to rise, while a lower demand can result in a decrease in the price of the precious metal.

Why is Silver Cheaper Than Gold in India?

Silver has historically been considered cheaper than gold due to various reasons:

Industrial Use: Silver is widely used in various industries, such as electronics and solar panels. The majority of silver is consumed for industrial purposes, which limits its availability for investment and contributes to its relatively lower price compared to gold.

Demand and Supply: The demand for silver is lesser compared to gold, which creates an imbalance in supply and demand. This lesser demand worldwide affects the price of silver and makes it comparatively cheaper.

Rarity: Gold is rarer than silver, making it more valuable. The limited supply of gold in comparison to silver contributes to the price difference between the two metals.

Where Can You Buy Silver in India?

In India, you can purchase silver from banks or jewelers. However, it's important to note that silver coins bought from banks tend to be more expensive due to additional charges for tamper-proof packing and assay certificates.

Buying silver as jewelry is also costlier compared to buying silver coins. Jewelry purchases include making charges of around 10% or more, and there might be a melting charge of 15% or more at the time of resale, which can reduce effective returns.

Additionally, you have the option to buy silver in the commodity futures exchange, where the contract sizes are larger. Silver is freely traded, allowing you to buy it in physical or electronic form. If you prefer, you can also trade silver in the futures market.