Election Trends? Gold Prices Rise in India, Check 22 Carat Price In Your City
Election Trends? Gold Prices Rise in India, Check 22 Carat Price In Your City

On June 04, 2024, as India awaits the results of the Lok Sabha elections, gold prices in the country have remained stable. The price of 10 grams of 24-carat gold is holding steady at Rs 72,870, while 22-carat gold is priced around Rs 66,800 per 10 grams. In contrast, the silver market has seen a downturn, with prices falling to Rs 94,000 per kilogram. While political developments can often influence market sentiments, the stable gold prices today indicate that investors and consumers are cautiously optimistic amidst the election results. The final outcomes of the Lok Sabha elections could potentially impact market dynamics in the coming days.

Gold prices in India maintained stability on June 04, with 10 grams of 24-carat gold priced at Rs 72,870 and 22-carat gold at approximately Rs 66,800. Meanwhile, the silver market saw a decline, with prices dropping to Rs 94,000 per kilogram.

The price of gold in India is influenced significantly by the country's dependence on imported gold, which closely follows global trends. Additionally, the cultural significance of gold in India, especially during festivals and weddings, can affect demand levels.

Gold Rate Today in India: Retail Prices on June 04

Here's the detailed price table for 22-carat and 24-carat gold across various cities in India:

  • City 22 Carat Gold Price 24 Carat Gold Price
  • Delhi Rs 66,950 Rs 73,020
  • Mumbai Rs 66,800 Rs 72,870
  • Ahmedabad Rs 66,850 Rs 72,920
  • Chennai Rs 67,450 Rs 73,580
  • Kolkata Rs 66,800 Rs 72,870
  • Gurugram Rs 66,950 Rs 73,020
  • Lucknow Rs 66,950 Rs 73,020
  • Bengaluru Rs 66,800 Rs 72,870
  • Jaipur Rs 66,950 Rs 73,020
  • Patna Rs 66,850 Rs 72,920
  • Bhubaneshwar Rs 66,800 Rs 72,870
  • Hyderabad Rs 66,800 Rs 72,870
  • Multi Commodity Exchange (MCX)

On June 04, 2024, the Multi Commodity Exchange (MCX) witnessed active trading in gold futures contracts expiring on August 05, 2024, with contracts priced at Rs 72,339 per 10 grams. Meanwhile, silver futures contracts expiring on July 05, 2024, were quoted at Rs 92,255 on the MCX.

Retail Cost of Gold
The retail price of gold in India, which reflects the final cost per unit weight for consumers, is influenced by several factors beyond the metal’s intrinsic value.
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