Gold price today: Rs 47,350 per 10 gm; silver at Rs 48,500 per kg

Gold price today of 22-carat gold in New Delhi is about Rs 46,150 per 10 gram, while in Chennai the price is at Rs 45370

Gold price today jumped to Rs 47,350 from Rs 46,900 per 10 gram, while silver climbed to Rs 48,500 from Rs 47,300 per kilogram, according to Good Returns.

The gold jewellery prices vary across India — the second-largest consumer of the metal — due to excise duty, state taxes, and making charges.

On MCX, August gold futures jumped 1.69 cent to Rs 47,414 per 10 gram, media reports said.

The price of 22-carat gold in New Delhi is about Rs 46,150 per 10 gram, while in Chennai the price is at Rs 45370. In Mumbai, it is Rs 46,100.

In the international market, gold was quoting lower at $1,735 per ounce and silver at $17.86 per ounce.

"Spot gold prices for 24 carat in Delhi traded up by Rs 477 on rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee depreciated 20 paise to provisionally close at 75.79 against the US dollar on Thursday as strengthening US dollar and weak domestic equities weighed on investor sentiment.

In view of the disruption in the wake of the Covid-19 crisis, jewellers have urged the government to extend the next year's deadline for mandatory hallmarking.

The Centre, in November last year, had announced that hallmarking of gold jewellery and artefacts would be made mandatory across the country from January 15, 2021. The government had given jewellers more than a year to shift to hallmarking and register themselves with the Bureau of Indian Standards (BIS), and they would be allowed to sell only hallmarked jewellery and artefacts made of 14, 18 and 22 -carat gold.

Any violation would attract penalties and imprisonment.