Akshay Tritiya, an auspicious occasion for buying gold, historically sees a surge in demand for the yellow metal. The price of gold, however, can vary depending on various factors such as global economic conditions, demand and supply dynamics, and geopolitical factors.
According to HDFC Securities, gold prices plunged by Rs 430 to Rs 60,550 per 10 grams in the national capital on Friday amid weak global cues. In the previous trade, the precious metal had settled at Rs 60,980 per 10 grams, reported PTI. Silver also tumbled Rs 670 to Rs 75,080 per kg.
According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, retail demand is likely to increase on Akshay Tritiya, which is seen as a lucky day to purchase jewellery and gold. Gold and silver were trading at lower prices in international markets, at $1,988 per ounce and $25,12 per ounce, respectively.
According to the website Goodreturns, on April 22, the 24-carat gold rate per gram in Delhi decreased. The 24-carat gold price today for 1 gram is Rs 6,097. The price for 10 grams of 24-carat gold is Rs 60,970.
One of the main factors influencing the change in the price of gold is the surge in demand during the holiday season. People typically buy gold as a sign of luck, wealth, and fortune. As demand grows, gold prices increase.
According to an ET report, gold prices are anticipated to restore during Akshaya Tritiya. Anuj Gupta, Vice President (VP) of Commodity and Currency Research at IIFL Securities told ET that gold has given returns of 20 per cent between last Akshaya Tritiya and the year-to-date gains stand at 12 per cent for gold and 11 per cent for silver.
Also Read: PM Modi Extends Wishes To People On Akshay Tritiya And Parshuram Jayanti
Gold Prices Over the Years
Gold prices in India have experienced significant fluctuations over the years. We have collected data between 2013 to 2023 to provide you with a chronological overview of gold prices in India.
In 2013, the price of gold in India was Rs 29,000 per 10 grams. However, in the following year, 2014, the price dropped to Rs 28,000 per 10 grams, representing a decrease of Rs 1,000. In 2015, the trend of decreasing gold prices continued as the price dropped further to Rs 26,000 per 10 grams. However, in 2016, the price of gold rebounded and increased to Rs 28,000 per 10 grams.
The year 2017 saw a slight increase in gold prices as it reached Rs 29,000 per 10 grams, representing an increase of Rs 1,000 compared to the previous year. The upward trend in gold prices continued in 2018, with the price reaching Rs 31,000 per 10 grams.
In 2019, gold prices in India experienced a substantial increase, reaching Rs 35,000 per 10 grams. In 2020 also gold prices in India witnessed a significant surge, reaching Rs 48,000 per 10 grams. This represented an increase of Rs 13,000 compared to the previous year, 2019.
In 2021, gold prices remained stable at Rs 48,000 per 10 grams. However, in 2022, gold prices increased to Rs 52,000 per 10 grams, representing an increase of Rs 4,000.
As of 2023, gold prices in India have reached Rs 61,000 per 10 grams, reaching a new historical high.
Here Is A look at Gold Price Over The Year
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Rs 29,000 | Rs 28,000 | Rs 26,000 | Rs 28,000 | Rs 29,000 | Rs 31,000 | Rs 35,000 | Rs 48,000 | Rs 48,000 | Rs 52,000 | Rs 61,000 |
To further elaborate on the data we put it in a graph format. Here is how it looks.
Gold Price In Different Cities Today (10 gram)
Prices of gold in major cities in India today according to the Goodreturns website.
| City | 22 carat | 24 carat |
|---|---|---|
| Chennai | Rs 56,050 | Rs 61,150 |
| Mumbai | Rs 55,750 | Rs 60,820 |
| Delhi | Rs 55,900 | Rs 60,970 |
| Kolkata | Rs 55,750 | Rs 60,820 |
| Bangalore | Rs 55,800 | Rs 60,870 |
| Hyderabad | Rs 55,750 | Rs 60,820 |
| Kerala | Rs 55,750 | Rs 60,820 |
| Pune | Rs 55,750 | Rs 60,820 |
| Vadodara | Rs 55,800 | Rs 60,870 |
| Ahmedabad | Rs 55,800 | Rs 60,870 |
| Jaipur | Rs 55,900 | Rs 60,970 |