Gold and silver prices on August 10
The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a price difference of ₹80, while 10 grams of 22 carat gold is available at ₹54,950 .
The price of 24 carat gold also witnessed a decline on Thursday. One gram of 24-carat gold is priced at ₹5,995 while eight grams and 10 grams are priced at ₹47,960 and ₹51,950 respectively. The price of 100 grams of 24-carat gold is ₹5,99,500.
Meanwhile, silver prices in India also recorded a nominal drop on Thursday. A gram of silver is now costing at ₹73.50 compared to ₹74 on Wednesday. Similarly, price of eight grams of silver stood at ₹588, with a decrease of ₹4. 10 grams of silver is available at ₹735 while one kg of silver will cost ₹73,500, with a drop of ₹500 from yesterday' price, Goodreturns said.
These price fluctuations are influenced by a range of determinants, including insights from reputable jewellers. Various factors contribute to these shifts, encompassing global demand for gold, currency valuations across different nations, prevailing interest rates, and governmental regulations related to gold trade.