Gold Rate Today in India – September 13, 2023

On September 13th, the retail price of 10 grams of gold in different cities throughout India is approximately Rs 60,000. To provide a more detailed breakdown, 10 grams of 24-carat gold are priced at Rs 59,450, while the same quantity of 22-carat gold can be acquired for Rs 54,500. The cost of silver stands at Rs 73,500 per kilogram.

September 13 Retail Gold Rate (See table below)

City 22 Carat Gold Price (In Rs/10 grams) 24 Carat Gold Price (In Rs/10 grams)
Delhi 54,990 59,990
Ahmedabad 54,550 59,500
Chennai 54,800 59,780

This article will be updated if the prices change during the day.

Gold Prices in Different Cities on September 13, 2023 (In Rs/10 grams)

City 22 Carat Gold Price 24 Carat Gold Price
Mumbai 54,500 59,450
Gurugram 54,650 59,600
Kolkata 54,500 59,450
Lucknow 54,650 59,600
Bengaluru 54,500 59,450
Jaipur 54,650 59,600
Patna 54,550 59,500
Bhubaneshwar 54,500 59,450
Hyderabad 54,500 59,450

On September 13, on Multi Commodity Exchange, gold futures maturing on October 05, 2023, were trading at Rs 58,582. On the other hand, Silver, maturing on December 05, was at Rs 71,541.

Factors Affecting Gold Prices in India

Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics. Here are several factors that can influence the price of gold:

  1. Supply and Demand: The gold price is primarily shaped by the interplay of supply and demand in the market. When demand for gold increases, the price tends to go up. Conversely, a surge in the supply of gold can lead to a decrease in the price.
  2. Global Economic Conditions: Global economic conditions also wield a significant influence on the price of gold. During periods of global economic downturns, investors often turn to gold as a safe haven, causing the price to rise.
  3. Political Instability: Additionally, political instability can impact the price of gold. When there is political turmoil or crisis in a major country, investors may seek to safeguard their assets by investing in gold as a hedge against uncertainty, resulting in a higher gold price.

Moreover, the retail price of gold in India represents the cost at which gold is sold to consumers within the country. This price is affected by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labor and materials used in crafting gold jewelry.

Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.

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