On the eve of Diwali, the price of 1 gramme of both 22 carat and 24 carat (K) gold is up by 1 rupee. According to the Goodreturns website, which tracks the daily rates of both gold and silver, 1 gramme of 22K gold is available at ₹4,701, while an equal quantity of 24K is at ₹5,129, up from ₹4,700 and ₹5,128 on Saturday, when the 5-day Diwali festival began with Dhanteras.
Therefore, in Delhi, you will have to shell ₹47,150 to buy 10 grammes of 22K gold and ₹51,450 for 10 grammes of 24K of the metal. The corresponding prices in other metros for 22K and 24K, in that order, are ₹47,060, ₹51,340 (Bengaluru), ₹47,410, ₹51,720 (Chennai), and ₹47,010, ₹51,290 (Hyderabad, Kolkata and Mumbai).
In India, gold becomes more expensive if the rupee slides against the US dollar. The rates also depend on factors such as volatile policies, economic growth etc.
Silver prices in India on Diwali eve
On the other hand, there is no change in silver prices, as per Goodreturns. The website shows that in Delhi, Kolkata and Mumbai, 10 grammes of the metal are at ₹577, while an equal quantity costs ₹632 in Bengaluru, Chennai and Hyderabad.
For silver, too, its daily price depends on the rupee’s position against the dollar. If the rupee slips, the rates go up. Also, silver is always cheaper than gold.