Gold Prices Drop in India: Check Today's 22-Carat Rates in Your City (June 3)

Current Gold Rate In India: As of June 3, the price of ten grams of gold was stable at around Rs 72,000. The price of pure 24-carat gold was Rs 72,540 per 10 kilos, while the price of 22-carat gold remained steady at about Rs 66,490 per 10 grams. The price of silver, on the other hand, dropped to Rs 93,400 a kilogram.

India imports a large portion of its gold, therefore domestic prices reflect worldwide patterns. In addition, demand may be impacted by the cultural significance of gold in India, particularly at festivals and weddings.

India's current gold rate: June 3 retail price

Examine current gold prices in several cities on June 3, 2024. (In grams/Rs)

Active trade in gold futures contracts with an August 5, 2024 expiration date was seen on the Multi Commodity Exchange (MCX) on May 02, 2024. Ten kilos of these contracts were purchased at Rs 71,359 each. On the MCX, silver futures contracts with a July 5, 2024 expiration date were quoted at Rs 90,686.

Gold's Retail Cost

Beyond the inherent worth of the metal, several variables influence the retail price of gold in India, which is the final cost per unit weight for customers. Gold is an important investment and a necessary component of traditional Indian weddings and celebrations, and it has great cultural importance in India.

Traders and investors actively watch these dynamics amid continuous market changes. For more information on this developing story, keep checking back.