Gold price today at Rs 47,070 per 10 gm, silver trending at Rs 67,200 a kg

The price of 10 gm of 22-carat gold went up on Friday to trade at Rs 47,070: a change of Rs 230 compared to yesterday’s prices. Silver gained Rs 800 over yesterday’s prices to sell at Rs 67,200 per kg, according to the website Good Returns. 

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price stands at Rs 47,050 per 10 gm, a gain of Rs 90 from yesterday. For Mumbai, the yellow metal is selling at Rs 47,070, while, in Chennai, it is at Rs 45,300, according to the website. 

The rate of 24-carat gold also gained by Rs 230 to stand at Rs 48,070 per 10 gm. 

Gold demand in India is likely to recover in the second half of 2021 as festivals and weddings are likely to boost gold purchase, the World Gold Council (WGC) said on Thursday. Higher demand in India, which is the second-biggest consumer of gold, could support global prices, Reuters reported. 

However, global demand rose in the second quarter to its highest quarterly level in a year, according to WGC, but still remained lower than in any first half since 2008.