Gold and silver prices on July 26: Check latest rates in your city today
Gold prices increased by ₹15 on Wednesday, July 26. According to Goodreturns, the website which tracks the prices of gold, the precious metal was being sold at ₹5,515 for 22 carats of gold while 24 carats of gold were being sold at ₹6,016 per gram.
Carat or ‘k’ is a term used to measure the purity of gold. A 24 K gold is the purest form of metal with 99.9 per cent purity. It is in liquid form and does not contain traces of other metals. On the other hand, a 22K gold contains traces of other metals like copper and zinc.
Here are the gold prices for major cities on July 26, 2023.
Gold prices are determined by several factors including currency, global situation and government policies. If the rupee is sliding against the US dollar, the gold prices will increase.
The gold prices in Indian cities depend on various factors like demand, state taxes, octroi charges, interest levied, bullion associations, transportation costs etc.
Gold is a preferred mode of investment and is traded in bars, coins or jewellery. It can be stored in bank lockers and in hi-tech lockers of private agencies.
The price of silver increased by just 40 paise on July 26, 2023, as per the website Goodreturns. One gram of silver was being sold at ₹77.40. In Delhi, Mumbai and Kolkata, 10 grams of silver were priced at ₹77.40.
Silver is always in demand in the jewellery markets in India. Since there is a huge demand for silver, the availability of the metal is dropping. Silver is cheaper than gold.
Silver can be purchased from banks, jewellers and online agents in India. The banks charge higher rates due to purity checks and assurance provided by them. The jewellers offer different products based on the weight.
