Srinagar, Mar 05: The gold price saw a marginal fall on Friday. The cost of one gram of 22-carat gold stood at Rs 4,390 after dip of Rs 47 from the earlier rate of Rs 4,437. According to Good Returns, the price of 22-carat gold in Delhi dropped to Rs 43,950 from Rs 44,250 per 10 grams, while in Mumbai, it was trading at 43,900 today.
Earlier on Thursday, the yellow metal had witnessed a marginal fall, following which the price of 10 grams of 24-carat gold stood at Rs 45,370, falling by Rs 50 from the previous rate of Rs 45,420. On MCX, gold futures dropped 0.4 per cent to Rs 44,768 per 10 grams. Notably, the rate of gold and silver changes in different cities of the country following the national trend.
Gold price stayed below Rs 50,000 per 10 gram this week. Since February 1, the precious metal price has plunged by 8.2%. This has left the jewelers elated as the business has revived. Speaking to Times of India, Jigar Soni, president of Jewellers’ Association of Ahmedabad (JAA) asserted that the daily gold consumption is 50-60kg for jewellery manufacturing as well as bullion. The demand is definitely picking up well after the duty cut on gold and silver, coupled with a decline in the gold price in the international market.
Moreover, he asserted the sale is expected to improve in the upcoming days as demand is good from both rural and urban customers.
